– OM Group, Inc
. is acquiring Rockwood Holdings,
Inc's electronics business for approximately $265 million in cash.
Along with the Electrochemicals PCB brand of products, Rockwood Holdings supplies chemicals used in the manufacture of semiconductors and photo-imaging masks primarily for semiconductor and photovoltaic manufacturers.
The Rockwood Electronics businesses, which had combined sales of $187 million in 2006, consist of PCB Chemicals, Ultra Pure Chemicals (UPC) and Photomasks. The company employs 700 people with operations in the United States, the United Kingdom, Taiwan, Singapore and China.
The acquisition still needs regulatory approval and is expected to close by the end of 2007.