Huntsman Corporation and Rockwood Holdings have announced that Huntsman will acquire Rockwood’s performance additives and titanium dioxide businesses.
Titanium dioxide can be used in the production of cosmetics such as sun creams and in makeups and foundations.
The $1.1bn deal will make Huntsman the second biggest producer of the chemical and inorganic color pigments in the world, and is attributed to a desire to improve investor focus and appreciation for Huntsman’s differentiated businesses.
Peter R. Huntsman, President and CEO of Huntsman Corporation, commented: "This acquisition provides a unique opportunity to unlock value within our Pigments business and builds on the strong improvements we have made to its competitiveness.”
A company spokesperson told CosmeticsDesign.comUSA that they expect personal care and cosmetics pigment ingredients to make up around 1 percent of their business.