Frankfurt, Germany-Rohm and Haas Co. Is selling its European Automotive Coatings business, which includes its plant in Strullendorf, Germany, to the Mäder Group, the company announced 2 May 2007. The deal with Mader is expected to close later this year, Rohm and Haas said.
Some 125 employees from Rohm and Haas will move to Mader's employ, a company statement said.
Mäder is an independent producer of hi-tech industrial paints and coatings, based in Lille, France, with operations throughout Europe, said the Rohm and Haas statement.
The company added that this deal completes its divestiture of the Automotive Coatings business.
Rohm and Haas sold its Automotive Coatings operations in North America (US, Canada and Mexico) and the Asia Pacific region to Nippon Paint Co. Ltd, in October 2006.
According to Rohm and Haas, the business makes a comprehensive range of automotive coatings. It has a focus on interior water-based products, supplied to high-end original equipment makers.
The business also makes speciality coatings with uses in the general industrial and optical media markets.
The European business had sales of $25 million in 2006 and of $7 million in first quarter 2007, said Rohm and Haas.
Financial terms of the transaction were not disclosed.
Rohm and Haas stressed that an important consideration in the sale was to find a buyer who would continue to invest in the site and its employees.
Mader intends to integrate the busines it has bought into a new company named Mäder Plastilack GmbH, the statement added.
It plans to exploit a "strong synergy" between Mäder's French Division, Soritec, in Saint-Georges-sur-Loire in western France, currently dedicated to plastic coatings.
This division has a strong position in automotive coatings in France, Spain and Italy with Renault and PSA. Mäder Plastilack will commercialise products developed for German OEMs and capitalise on its exisiting market position in Germany and eastern Europe.
Together, these two sites will be able to serve all the European car manufacturers, the statement added. epw"