CRANBURY, N.J. (Feb. 6) — China National BlueStar Corp. has completed its acquisition of Rhodia's global silicones business and created a $700 million silicones-based entity called Bluestar Silicones.
The deal includes all silicone-related business activities, products, employees and manufacturing assets, including plants in Rock Hill, S.C., and Venture, Calif.
The financial terms of the sale weren't disclosed.
Olivier de Clermont-Tonnerre, former Rhodia Silicones president, will be CEO of Bluestar Silicones, which will be based in Lyon, France.
Bluestar Silicones will serve global markets, such as specialty elastomers, paper and textile coatings, and dental and health care applications.