Rohm and Haas Company has finalised the sale of its European automotive coatings business, including its manufacturing site in Strullendorf, Germany, to the Mader Group, an independent manufacturer of hi-tech industrial paints and coatings based in Lille, France, with operations throughout Europe.
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This transaction completes Rohm and Haas Company’s divestiture of its automotive coatings business, which started with the sale of the its operations in North America (United States, Canada and Mexico) and the Asia Pacific region to Nippon Paint in October 2006.
The business manufactures a comprehensive range of automotive coatings, with a focus on interior water-based products, which are supplied to high-end OEMs.
The business had sales of $US25m in 2006 and sales of $7m in first quarter 2007. Financial terms of the transaction were not disclosed.
The coatings business acquired from Rohm and Haas Germany will be integrated into a new company named Mader Plastilack with the intention of building a strong synergy between Mader’s French Division, Soritec, located in Saint-Georges-sur-Loire in western France, that is currently dedicated to plastic coatings.
The new Mader Plastilack will be located in Strullendorf and will also focus on plastic coatings manufacture and contribute to making the company the European leader in interior automotive coatings, it said.
