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Articles: Rockwood makes €2.25bn specialty chemicals buy
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Posted by admin on Monday, April 19, 2004 - 02:39 AM
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Buisiness and EconomyFrankfurt - German industrial concern MG Technologies announced Monday it has sold its specialised chemical company Dynamit Nobel to US firm Rockwood for €2.25 billion (R17.39 billion).
Rockwood Specialties Group, a specialty chemicals producer, bought the unit with the help of financing from Kohlberg Kravis Roberts and Credit Suisse's CSFB Private Equity. MG Technologies said that the plastics division of Dynamit Nobel was not sold under the terms of the deal. Dynamit Nobel, with 12 300 employees, last year posted turnover of €2.3 billion (R17.77 billion), making up more than 36 percent of mg technologies' total revenues. - Sapa-dpa
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