- Specialty chemicals company receives credit line of €200 million to develop climate-friendly, digital and sustainable products.
- ALTANA meets the EIB’s stringent lending criteria.
- Credit line opens up additional research areas, for example in resource-efficient digital printing.
Specialty chemicals company ALTANA has received a credit line from the European Investment Bank (EIB). The company, headquartered in Wesel, Germany, will be able to use up to €200 million for research and development over the next ten years.
ALTANA products already contribute to conserving resources and protecting the climate. Amongst other things, ALTANA will also use the EIB’s additional research funding to develop further sustainable packaging materials and promote resource-efficient digital printing solutions. ALTANA itself intends to become climate neutral by 2025.
The EIB — as the EU climate bank — judges that ALTANA meets its strict lending requirements. The R&D projects comply with many of the Bank’s environmental, social and governance (ESG) criteria. The development of safe products, the resource-efficient use of raw materials and the development of sustainable production technologies also support the European Union’s Green Deal, the EU roadmap for achieving climate neutrality and preserving the environment.
Sustainability and innovation have been an integral part of ALTANA’s strategy for many years. ALTANA’s pioneering products to date include systems for water-based coatings that replace the use of solvents, PVC‑free seals for glass jars containing baby food and insulation materials for powerful electric motors.
“The EIB is proud, as an anchor lender, to work with ALTANA and facilitate further research projects supporting climate neutrality and digitalisation,” said EIB Vice-President Ambroise Fayolle, who is responsible for the environment, climate programmes and the circular economy, along with the EIB’s activities in Germany. “In light of rising global demand for chemical products, there is a growing need for these products to be resource-efficient and environmentally friendly. The chemical industry can make a significant contribution to environmentally compatible production — which ALTANA has been working on successfully for years.”
Angela Drautz, Head of Treasury at ALTANA AG, said: “To receive EIB financing, high technical and environmental standards must be met. We were able to demonstrate convincingly that the projects now supported by the EIB provide concrete added value in achieving the European Union’s overarching climate goals.” Dr Petra Severit, Chief Technology Officer at ALTANA, added: “With the loan, we will have even greater freedom in our research in the future. As such, we will be able to tailor our innovative strengths to our ambitious approach even more closely, continuing to set new standards in specialty chemicals in the future.” “We are delighted that in the EIB, we have found a partner that pursues the same sustainability goals as our company,” concluded Stefan Genten, Chief Financial Officer of ALTANA AG. “In combination with the sustainability-linked credit line recently signed with a consortium of banks, we could completely renew our Group’s long-term financing.”
About the EIB
The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. As the EU climate bank, the EIB has a particular focus on projects that serve the European Union’s objective of climate neutrality.
ALTANA is a global leader in true specialty chemicals. The Group offers innovative, environmentally compatible solutions for coating manufacturers, paint and plastics processors, the printing and packaging industries, the cosmetics sector and the electrical and electronics industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins and varnishes, and testing and measuring instruments. ALTANA’s four divisions, BYK, ECKART, ELANTAS, and ACTEGA, all occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service.
Headquartered in Wesel, Germany, the ALTANA Group has 48 production facilities and 65 service and research laboratories worldwide. Throughout the Group, more than 6 500 people work to ensure the worldwide success of ALTANA. In 2020, ALTANA achieved sales of around €2.2 billion. About 7% of sales is invested in research and development every year. Its high earning power and high growth rate make ALTANA one of the most innovative, fastest growing, and profitable chemical companies in the world.