Advertisement

If you have an ACS member number, please enter it here so we can link this account to your membership. (optional)

ACS values your privacy. By submitting your information, you are gaining access to C&EN and subscribing to our weekly newsletter. We use the information you provide to make your reading experience better, and we will never sell your data to third party members.

ENJOY UNLIMITED ACCES TO C&EN

Business

Alumina Maker Almatis Changes Hands Again

November 12, 2007 | A version of this story appeared in Volume 85, Issue 46

The specialty alumina maker Almatis has been sold by its owners, Rhône Capital and the Ontario Teachers' Pension Plan, to Dubai International Capital, an investment firm owned by the Dubai government. Details of the sale weren't disclosed, but reports from Germany, where Almatis is based, put the sale price at $1.2 billion. Almatis is the former specialty chemicals business of Alcoa, which sold the business to Rh??ne and OTPP in 2004 for about $340 million. Rhône and OTPP announced an agreement to sell the business to the private equity firm Investcorp in September 2005, but that deal fell through. Almatis has annual sales of more than $500 million, a spokesman says, up from $360 million at the time of the sale by Alcoa. CEO Martin Laudenbach, who joined the company in January from BASF, says Dubai International Capital is committed to Almatis' growth strategy. The firm is in the midst of an expansion program that it says will raise its global alumina capacity by almost 20% to around 750,000 tons by 2010.

Article:

This article has been sent to the following recipient:

0 /1 FREE ARTICLES LEFT THIS MONTH Remaining
Chemistry matters. Join us to get the news you need.