Wesel, October 4, 2005
ALTANA Chemie sells coil coating business of Rhenania Coatings
ALTANA Chemie AG, the chemicals division of ALTANA AG (FWB: ALT, NYSE: AAA), has sold the industrial coatings business of Rhenania Coatings GmbH, Grevenbroich to BASF Coatings AG, Münster. A respective agreement was signed on September 30, 2005; the completion of the transaction is expected to take place in the fourth quarter of 2005 once the relevant anti-trust authorities have given their approval. Both parties have agreed not to disclose financial details of the transaction. The agreement involves the purchase of products, technologies and customer lists. Sites and production systems are not part of the deal. In 2004 the coil coatings business of Rhenania Coatings GmbH recorded sales of around €8m.
As announced, ALTANA Chemie has now completed the divestment of its industrial coatings activities in the Division Coatings & Sealants. Rhenania Coatings is now focusing on specialty coatings and coating problem solutions for the packaging industry, and is well equipped to do so in the future due to the modern production facility at the Grevenbroich plant. The sale of the industrial coatings activities of Rhenania Coatings is another, consequent step in the strategic reorientation of Coatings & Sealants: on fast-growing segments in the market for technically demanding secondary materials used in the manufacture of packaging. In the same context we published on September 29 the acquisition of the US packaging paint specialist Kelstar International.
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 Insulation and Coatings & Sealants. 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, 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.