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Rockwood completes sale of ceramics business for $1.75 billion

7:16 AM MDT | September 4, 2013 | Lindsay Frost

Rockwood announced today that is has completed the sale of its advanced ceramic business CeramTec (Plochingen, Germany) to Cinven, a European private equity firm, for €1.49 billion ($1.96 billion). After all transaction adjustments, fees, and taxes, Rockwood has received $1.75 billion in cash. “We are pleased with the expeditious timing and execution to close this transaction,” says Seifi Ghasemi, chairman and CEO of Rockwood. “Consistent with our current focus to maintain a strong balance sheet, it would be our immediate plan to use a...

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