- 10 May2007 -
Rohm & Haas Unit Sale Completes Divestiture

Rohm and Haas has signed a definitive agreement to sell its European Automotive Coatings business, including its manufacturing site in Strullendorf, Germany, to the Mader Group, a leading independent manufacturer of hi-tech industrial paints and coatings based in Lille, France, with operations throughout Europe. Financial terms of the transaction, which is expected to close later this year, were not disclosed.

This latest transaction completes Rohm and Haas Co.’s divestiture of its Automotive Coatings business, a move that started last October with the sale of its Automotive Coatings operations in North America (United States, Canada and Mexico) and the Asia Pacific region to Nippon Paint Co., Ltd. The business manufactures a comprehensive range of automotive coatings, with a focus on interior water-based products supplied mainly to high-end OEMs. In addition, the business produces specialty coatings with applications in the general industrial and optical media markets. The business had sales of $25 million in 2006 and sales of $7 million in the first quarter this year.