Bad Homburg/ Wesel, September 29, 2005
ALTANA Chemie acquires Kelstar International
Strategic Expansion of ALTANA Coatings & Sealants in the Area of Packaging Coatings in the
ALTANA Chemie AG, the Chemicals division of ALTANA AG (NYSE: AAA, FSE: ALT), has signed an agreement to acquire Kelstar International, a leading US producer ofwater based and UV curable overprint coatings for the paper and board packaging sector. The completion of the transaction is planned to take place in the fourth quarter of 2005. With this move, ALTANA Chemie will strengthen its market presence in
Kelstar, headquartered in
“As announced previously, the acquisition of Kelstar is an important step towards expanding our fast-growing packaging coatings business, now that ALTANA Coatings & Sealants has withdrawn from the industrial coatings segment,”Dr. Guido Forstbach, Division President Coatings & Sealants and Managing Director ofALTANA Coatings & Sealants GmbH comments. “Kelstar allows us to enter the
“With this acquisition we are strengthening the Coatings & Sealants division and thereby further consolidating our globally strong market position,” Dr. Matthias L. Wolfgruber, Member of the Management Board of ALTANA AG and President & CEO of ALTANA Chemie AG, explains. “The acquisition of Kelstar improves our geographical presence, particularly in the important
ALTANA Chemie develops and produces high-quality, innovative products in the specialty chemicals business. The specialty chemicals activities of the ALTANA Group as a globally active group of companies are consolidated in ALTANA Chemie AG. ALTANA Chemie AG with its headquarters in Wesel, Germany, is the holding company for the divisions Additives & Instruments, Coatings & Sealants and Electrical Insulation. The closing of the fouth divison, the acquisition of the ECKART-Group is expected for the beginning of October 2005. ALTANA Chemie provides innovative and environmentally compatible solutions, along with the appropriate special products, for coatings manufacturers, paint and plastics processors, and the electronics industry. The range of products includes additives, special coatings, sealants, compounds, impregnating agents, and testing and measuring equipment. In its target markets the company occupies a leading position in terms of quality, product solutions, innovation and service. In 2004 ALTANA Chemie, with over 2,500 employees, achieved sales of €854m. Sectorally, with an EBITDA of around 19%, ALTANA Chemie is among the most innovative, fast-developing and profitable chemical corporations in the world.
This press release contains forward-looking statements, i.e., current estimates or expectations of future events or future results. The forward-looking statements appearing in this press release include ALTANA's expectation that the acquisition of Kelstar International will be completed in the fouth quarter of 2005. These statements are based on beliefs of ALTANA's management as well as assumptions made by and information currently available to ALTANA. Many factors that ALTANA is unable to predict with accuracy could cause ALTANA's actual results, performance or achievements to be materially different from those that may be expressed or implied by such forward-looking statements.
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.