The German speciality chemicals group Altana (Wesel; www.altana.com) has signed an agreement to purchase for USD 635m (roughly EUR 480m) the global rheology business from American speciality chemicals producer Rockwood Holdings (Princeton, New Jersey; www.rocksp.com). The transaction is anticipated to be final in Q4. Once the antitrust authorities have approved the deal, the new business segment will be absorbed into Altana's German subsidiary, BYK Additives & Instruments (Wesel; www.byk.com). Rheology additives are used in applications such as coatings, construction materials and personal care products. They ensure that coatings have the appropriate viscosity.

"The acquisition is associated with an attractive growth potential," states Christoph Schlünken, president of BYK, adding, "We will use the existing BYK structure to grow the acquired rheology business in Asia." With the purchase, Altana's sales are expected to reach about EUR 1.9 bn and the workforce will increase to more than 5,700. In 2012, the German chemical company had sales of more than EUR 1.7 bn.

With 340 employees at four production sites in Moosburg / Germany, Widnes / UK, Gonzales / Texas and Louisville / Kentucky Rockwood's rheology business generated sales of USD 191m in 2012. The markets in Europe and North America account each for 40% of revenues from the additive's business.

The German company's last acquisition was in early December 2012, when it scooped up the American speciality wax additives producer Chemical Corporation of America – see Plasteurope.com of 11.12.2012.