PRINCETON, NJ - Rockwood Specialties Group Inc. subsidiary Rockwood Pigments (UK) Ltd. announced a definitive agreement to acquire the Pigments and Dispersions business of Johnson Matthey plc for approximately $50 million.

The transaction, which is subject to regulatory clearance, is expected to close by the end of the third quarter, Rockwood Specialties said. The acquisition includes manufacturing facilities in Kidsgrove and Sudbury, UK, and Braeside, Australia.

Johnson Matthey's Pigments and Dispersions business is a producer of transparent iron oxide pigments and dispersions, color concentrates and complex inorganic color pigments used in coatings, ink, building materials and plastics. The business has annual sales of approximately $70 million.

Rockwood's Pigments Division is a major global supplier of synthetic iron oxide pigments, with manufacturing sites in the United States, Europe and China.