Talison Accepts Acquisition Offer from Rockwood

Talison Lithium announced acceptance of an offer from Rockwood Holdings, Inc. in late August 2012, whereby Rockwood will acquire Talison for C$724 million in cash. Talison is a leading global producer of lithi-um concentrates from its mines at Greenbushes, Western Australia. The com-pany recently completed an expansion project that doubled its production capaci-ty (E&MJ, July 2012, p. 16).

Rockwood is a NYSE-listed global spe-cialty chemicals and advanced materials company, headquartered in Princeton, New Jersey, with 81 manufacturing facilities in 24 countries around the world. The com-pany is a leading manufacturer of lithium-based compounds for use in base chemi-cals for numerous industries, drug inter-mediates, elastomers for car tires and rub-ber soles, lithium batteries, thermoplastic materials, and high-performance greases.

The company does not currently have mining operations, and acquisition of Talison will give it control of a source of feed materials for its manufacturing operations.

The agreement requires Australian reg-ulatory approvals and approval of a major-ity of Talison shareholders at a shareholders meeting.

Commenting on the transaction, Seifi Ghasemi, chairman and CEO of Rockwood, said, “The acquisition of Talison is the log-ical next step in strengthening our lithium business and enhancing our capabilities. This acquisition will enable us to better serve both our existing global customers as well as Talison’s current lithium concen-trate customers in China and the rest of the world.”

As featured in Womp 2012 Vol 10 - www.womp-int.com