Lyon, France – 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, South Carolina and Venture, California.
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…