BlueStar Acquires Rhodia's Global Silicone Business
Cranbury, NJ - The acquisition of Rhodia's global silicones business by China National BlueStar Corporation, was finalized on January 31, 2007, creating a new $700 million silicones-focused entity called Bluestar Silicones.
The acquisition involves all silicone-related business activities, products, employees and manufacturing assets, including two production sites in North America located in Rock Hill, S.C., and Ventura, Calif. Financial terms of the deal were not disclosed.
Bluestar Silicones combines BlueStar Corporation's upstream Silicon metal operations and capacity with Rhodia's downstream silicone market and applications expertise.
The combination of two upstream production facilities located in Roussillon, France, and Xinguo, China, offers 400,000 tons of capacity for silicones core intermediates. Bluestar Silicones' Xinguo site represents the largest available production capacity for core silicones intermediates in China.
Olivier de Clermont-Tonnerre, former Rhodia Silicones president, will serve as chief executive officer of Bluestar Silicones. The global business will be headquartered in Lyon, France.
North American operations, headquartered in Cranbury, NJ, will be led by J. Christopher York, who has been named president, Bluestar Silicones North America.
"The merger with the leading silicones player in China is a unique opportunity for us to focus on our worldwide ambition based on strong positions and over 50 years' experience in silicones," says de Clermont-Tonnerre.
"For North America, this acquisition is a win-win for our customers and our business," says York. "As an organization fully dedicated to the silicones market, we will benefit from a more responsive, efficient organization with enhanced resources to aggressively grow in the markets we serve. Now, with a fully-integrated global supply chain, we are well positioned for rapid growth in North America."
With downstream production units throughout the world, Bluestar Silicones has leading positions in key markets such as specialty elastomers, paper and textiles coatings, dental and health care applications.
SOURCE: Bluestar Silicones