Albemarle today announced it agreed to acquire Rockwood Holdings — a New Jersey-based specialty chemicals manufacturer focused on lithium — for $6.2 billion. As the Associated Press notes, it is the latest in a series of chemical sector consolidations following recent moves by Dow Chemical and others to focus more on high-margin specialty products and less on commodity products. Other recent examples include Eastman Chemical’s $3 billion purchase of Solutia in 2012 and Huntsman’s acquisition of Rockwood’s performance additives and titanium dioxide businesses last year.
The combined company will be a market leader in lithium, catalysts, bromine and surface treatment. The transaction is expected to close in the first quarter of 2015, Albemarle said.
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