MANNHEIM, Germany (July 8, 2011)—Wacker Chemie A.G. has sold its silicone-based tire-release-agent business to Rhein Chemie Rheinau GmbH.
Both parties have agreed not to disclose the purchase price.
As part of the agreement, Rhein Chemie acquires the rights to related product formulations, as well as existing segment-specific contracts and inventories.
Wacker will continue to supply Rhein Chemie with the required silicone raw materials, among other products.
Carlos Weise, president of the Wacker Silicones division said the deal “streamlines our portfolio of products and solutions.”
He said Wacker does not focus on tire-industry applications, but Rhein Chemie does.
“Acquiring Wacker Chemie's tire release agents business strengthens our already good position in the tire industry and makes us the world's leading supplier of tire release agents," said Anno Borkowsky, CEO of Rhein Chemie.