Bad Homburg/Wesel, October 4, 2005
ALTANA Chemie closed the acquisition of the ECKART group
ALTANA AG (NYSE: AAA; FSE: ALT) announced today that the ALTANA Chemie AG completed the acquisition of the ECKART group as of October 1, 2005. The acquisition had been announced in August 2005. The responsible antitrust authorities have approved the acquisition.
Within the framework of the transaction, ALTANA Chemie acquired the entire business of the global leading manufacturer of metallic effect pigments for applications in paints and printing inks, plastics and cosmetics as well as technical applications for a gross purchase price of €630 million (“cash and debt free” basis). ALTANA Chemie retains all of ECKART’s sites and employees. ECKART’s name and corporate identity will be maintained; the company will become ALTANA Chemie’s fourth division, “Effect Pigments”. This new division will be managed by Dr. Christoph Schlünken, the new head of the Management Board of the ECKART group.
ECKART, an international specialty chemicals group, is the global leading manufacturer of metallic effect pigments and metallic printing inks. In 2004, the group achieved a sales volume of €302 million and operating earnings (EBITDA) of €65 million. ECKART employs about 1,850 people worldwide.
The purchase of ECKART represents the largest acquisition in the ALTANA Group’s history to date. The new ALTANA Chemie is expected to achieve a pro forma sales volume of about €1.2 billion. There will be eight new production sites and the number of ALTANA Chemie’s employees will rise to significantly over 4,000.
ALTANA Chemie develops and produces high-quality, innovative products in the specialty chemicals business. The 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, Effect Pigments, Electrical Insula-tion and Coatings & Sealants. ALTANA Chemie provides innovative and environmentally compatible solutions, along with the appropri-ate special products, for coatings manufacturers, paint and plastics processors, and the electronics industry. The range of products includes additives, special coatings, effect pigments, 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.
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.