“Private Equity at Work” Video Highlights Rockwood Holdings’ PE-Fueled Expansions in NC, MI, NV and GA
With the support of private equity, Rockwood’s expansion will position the company to be the leading global provider of lithium compounds for electric and hybrid electric vehicles. Watch the full video here.
Washington, D.C., April 25, 2012 – Today the “Private Equity at Work” campaign released its latest video chronicling the decade-long partnership between private equity firm Kohlberg Kravis Roberts (KKR) and Rockwood Holdings, Inc., the largest global producer of lithium and lithium compounds used in lithium-ion batteries for smartphones, tablets, laptops and alternative transportation.
“There is a real lack of understanding about private equity – what it does, how it works and who benefits from it,” said Steve Judge, president and CEO of the PEGCC. “The Rockwood Holdings case study released today highlights yet another example of private equity’s proven record of driving economic growth, strengthening companies, creating jobs and delivering superior returns to pensions and other investors that bolster the financial security of millions of average Americans. Over the coming weeks and months, we will continue to share some of these success stories through our Private Equity At Work campaign.”
Rockwood is currently undertaking an ambitious project to expand its lithium production capabilities to meet the growing demand for alternative and hybrid electric vehicles. The centerpiece of Rockwood’s expansion is a state-of-the art lithium hydroxide plant in Kings Mountain, N.C. that will produce high purity lithium hydroxide for the advanced transportation batteries used in plug-in electric vehicles.
Investment Highlights:
-Under private equity ownership, Rockwood has grown fivefold, making more than 20 acquisitions.
-The company is currently building a new lithium hydroxide plant in Kings Mountain, N.C.; the world’s largest surface treatment chemical plant in Blackman Township, M.I.; and the first new iron oxide pigment plant in the U.S. in 35 years in Augusta, G.A.
-In addition, the new Global Technical Center for Lithium at Kings Mountain, N.C. will fuel innovation by bringing together engineers and scientists to perfect and commercialize compounds to be used in advanced transportation batteries.
-These expansions will create hundreds of new manufacturing jobs. Rockwood currently employs more than 9,500 people worldwide.
