India’s Sudarshan Chemical Industries (SCIL) has entered into a definitive agreement to acquire the Heubach Group in a move that it said would “create a global pigment company, combining SCIL’s operations and expertise with Heubach’s technological capabilities”. Terms were not disclosed.
Lanxess has reversed a decision to sell the chromium oxide pigments business at the Krefeld-Uerdingen site in Germany, preserving 50 jobs there. This followed “intensive and lengthy negotiations” to secure a long-term supply of raw materials and identifying further potential for improvement along the entire value chain. Chromium oxide pigments are very heat-stable and are used for colouring glazes and enamels in ceramics, the production of refractory bricks and colouring a wide variety of materials.
Clariant has completed the previously announced sale of most of its Pigments business to Heubach Group and SK Capital Partners, completing its transformation into a speciality chemicals firm. The business has about 3,000 employees and revenues of €1 billion/year.
The deal gives Pigments a base enterprise value of CHF 805 million, subject to closing accounts adjustments and before a potential earn-out payment of CHF 50 million depending on its financial performance in 2021. Clariant has retained a 20% stake in the new holding company. in order to profit from its future growth
Clariant has agreed to sell 80% of its Pigments business to a consortium made up of German pigments specialist Heubach Group and private investment firm SK Capital Partners, which owns many other chemical industry operations. This should close in 1H 2022.
With the unanimous support of the directors, Ferro is being acquired by American Securities subsidiary Prince International, in a deal that should close in Q1 2022 subject to shareholder approval and regulatory clearance. The $22.00/share deal values the firm at about $2.1 billion, including the assumption of debt, net of cash.
Lanxess has expanded its capacity for black synthetic iron oxide pigments at its Krefeld-Uerdingen site in Germany by over 5,000 tonnes/year. This is the world’s largest plant for these pigments.
The investment was made, according to Holger Hüppeler, head of the Inorganic Pigments business unit, because of growing demand from the construction industry, which is increasingly using black pigments to colour concrete. The Bayferrox 330 and 340 grades are widely used in concrete paving stones and roof tiles, and in architecture.
Lanxess has expanded its capacity for black synthetic iron oxide pigments at its Krefeld-Uerdingen site in Germany by over 5,000 tonnes/year. This is the world’s largest plant for these pigments.
The investment was made, according to Holger Hüppeler, head of the Inorganic Pigments business unit, because of growing demand from the construction industry, which is increasingly using black pigments to colour concrete. The Bayferrox 330 and 340 grades are widely used in concrete paving stones and roof tiles, and in architecture.
