Wesel, February 20, 2004
ALTANA Electrical Insulation Sells its Insulating Sleevings and Covers Business
Wesel, February 20, 2004 - ALTANA Electrical Insulation (AEI) has signed a deal with Relats, S.A., Spain to sell the electrical insulating sleevings and covers business, currently marketed through Rhenatech Elektroisoliersysteme GmbH.
As part of its continuing policy of strategic alignment and as a result of a portfolio analysis carried out by its business unit, AEI, ALTANA Chemie AG will be focussing its future growth on liquid electrical insulation chemicals such as wire enamels, impregnating varnishes, resins and compounds.
AEI has recently shown its strong commitment to the sector by acquiring the electrical insulation business of both Schenectady, US and Ranbar, US.
"We are happy to have found an ideal partner with Relats, S.A., which specializes in insulation sleevings and other protective products for the electrical, household and automotive industry", enthused Dr. Christoph Schlünken, Head of the AEI business unit.
Relats is a medium size, family-owned, group with manufacturing sites in Spain, UK and China employing more than 150 people in five countries. The company is a leading manufacturer in high-tech textile applications and has a wealth of experience and high reputation in the industry. Relats is experiencing a fast growth based on innovation and new products. Forecast turnover for Relats Group in 2004 is 30 million Euro. The deal will ensure the continuing supply to Rhenatech's existing customer base of both existing and new products.
As both parties are operating in the same market they have agreed to cooperate wherever possible in the future. After an intermediate phase Relats plans to integrate the added production into its existing manufacturing sites.
ALTANA Chemie develops and produces high-quality, innovative products in the special chemicals sector. The special 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 executive company for the three business units of Additives & Instruments, Coatings & Sealants, and Electrical Insulation. 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. Its range of products includes additives, special coatings, sealing and plugging compounds, impregnating agents, and testing and measuring instruments. In its target markets the company is market leader in terms of quality, innovation and service.
In 2003 ALTANA Chemie with more than 2,600 employees achieved sales of 755m, making ALTANA Chemie one of the most innovative, fast-developing and profitable chemical corporations in the world.