Huntsman Corp. recently announced it has entered an agreement to acquire the Performance Additives and Titanium Dioxide (TiO₂) businesses of Rockwood Holdings Inc. Under the terms of the agreement, Huntsman will pay approximately $1.1 billion in cash and assume unfunded pension liabilities estimated at $225 million as of June 30.

“This acquisition provides a unique opportunity to unlock value within our Pigments business and builds on the strong improvements we have made to its competitiveness,” said Peter R. Huntsman, president and CEO of Huntsman Corp. “With this combination, we will be better positioned to serve customers through a broader product range, including color pigments, functional additives and specialty TiO₂pigments. We will become the second-largest global producer of TiO₂and inorganic color pigments.