Ferro Completes
Acquisition of Cappelle
Pigments
Ferro Corporation has announced that
it has completed the previously announced acquisition of Belgium-based
Cappelle Pigments, a leader in specialty,
high-performance inorganic and organic pigments used in coatings, inks
and plastics, for € 50. 5 million (
approximately $54 million) on a cash-free
and debt-free basis. The acquisition
was previously announced on October
17, 2016. The transaction was funded
through excess cash and borrowings
under the Company’s existing revolving
credit facility.
Cappelle is a 125-year-old premium
pigment producer and a market lead-
er in inorganic pigments. Cappelle’s
pigments complement Ferro’s mar-
ket leadership positions in complex
inorganic colored pigments and ul-
tramarine blue pigments. Cappelle
has a strong reputation in bismuth
vanadates, offering yellow, orange and
red shade varieties, which provide an
environmentally friendly alternative to
lead chromates in high-performance
applications. Cappelle’s organic pig-
ments offer superior heat, light and en-
vironmental wear resistance.
“This acquisition strengthens our
color solutions business by facilitating
our expansion into the high-perfor-
mance, specialty organic pigment mar-
ket and complementing our inorganic
pigment portfolio,” said Peter Thomas,
chairman, president and CEO of Ferro
Corporation. “The transaction will
significantly expand our addressable
market for pigments and increase
sales in our Pigments, Powders and
Oxides business by approximately
$70 million. Pigments produced by
Cappelle and Ferro can be combined
or blended with other mediums to pro-
duce specialized color solutions that
enhance functionality and effective-
ness of our customers’ end products
while improving customers’
efficiency. We are delighted to
welcome the Cappelle team to
Ferro and are eager to leverage
the enhanced capabilities that the ac-
quisition provides.”
Taminco to Acquire
Remaining Shares of Te An
Ling Tian Fine Chemical
Company, Ltd.
Eastman Chemical Company announced
that its wholly owned subsidiary Taminco
BVBA has reached an agreement to acquire the 50% of shares of Te An Ling
Tian Fine Chemical Co., Ltd. (TALT),
its joint venture with Mitsubishi Gas
Chemical Company, Inc. and other
Japanese investors, that it does not currently own.
Headquartered in Nanjing, China,
TALT is a manufacturer of amines and
specialty derivatives, including solvents
and alklylalkanolamines. Its products
will expand the Care Chemicals and
