Wesel, October 2. 2008
ALTANA completes acquisition of USBP
After having received the approval by the German antitrust authorities, ALTANA AG now completes the acquisition of the effect pigments business of the American company United States Bronze Powders Inc. (USBP) with immediate effect. The acquired business will be transferred to ALTANA´s division ECKART Effect Pigments. The acquisition contract was signed in August 2008.
The acquired business mainly comprises the production and the selling of copper pigments, bronze pigments, stainless steel pigments, as well as press-ready metallic printing inks, excluding aluminum pigments. In 2007, USBP achieved sales of about USD 8 million in this business area. 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.
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.