Wesel, Germany, August 21, 2008
ALTANA acquires effect pigment business of USBP
The specialty chemicals Group ALTANA has signed a contract to acquire the effect pigment business of the American company United States Bronze Powders Inc. (USBP). In 2007, USBP achieved sales of approximately $8 million in this business area. USBP retains its powder business as well as its aluminum pigments business. Within the ALTANA Group, the acquired business will be integrated into the ECKART Effect Pigments division, a leading manufacturer of metallic and pearlescent pigments. The acquisition is subject to approval by the antitrust authorities.
The acquired business mainly comprises the production of copper pigments, bronze pigments, stainless steel pigments, as well as press-ready metallic printing inks. USBP generates about 60% of its sales of these pigments in the NAFTA region, and about 15% in each of Asia and Europe. No manufacturing site and no employees are included under the agreement with USBP; the production for this business will be transferred to ECKART's US Affiliate ECKART America in Painesville, Ohio, and to its main factory in the Bavarian town of Güntersthal in Germany.
"United States Bronze Powders is a company with a long tradition. The acquired product range is a perfect fit for ALTANA and will help to create value", commented Dr. Matthias L. Wolfgruber, CEO of ALTANA AG. "The acquisition underlines our growth ambitions, which are supported by our operating growth as well as acquisitions."
"With this acquisition our product range is strategically complemented, we create synergies and improve our position in particular in the North American market", emphasized Dr. Christoph Schlünken, President Division ECKART Effect Pigments. Of particular interest and advantage was the fact that with the further diversification of its portfolio, ECKART is now able to enter a new, future-oriented area of business with pigments for stainless steel.
This press release contains forward-looking statements, i.e. current estimates or expectations of future events or future results. These statements are based on beliefs of ALTANA as well as assumptions made by and information currently available to ALTANA. Forward-looking statements speak only as of the date they are made. ALTANA does not intend, and does not assume any obligation, to update forward-looking statements to reflect facts, circumstances or events that have occurred or changed after such statements have been made.
ALTANA develops and produces high-quality innovative products in the specialty chemicals business. The ALTANA Group, with headquarters in Wesel/Germany, is a genuine "global player" with 83% of its sales generated by international activities. The ALTANA Group has four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation, and ACTEGA Coatings & Sealants. All of these divisions occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service.
ALTANA offers innovative, environmentally compatible solutions with the matching specialty products for coating manufactures, paint and plastic processors, the printing and cosmetic industries, and the electrical and electronic industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins & varnishes, and testing and measuring instruments.
At present, the ALTANA Group has 32 production facilities and 46 service and research laboratories worldwide. Throughout the group about 4,700 people work to ensure the success of ALTANA worldwide. In 2007, ALTANA achieved sales of about 1.4 billion euros. Its impressive earning power and high growth rate make ALTANA one of the most successful and innovative chemical groups worldwide.