Wesel, December 10, 2003
ALTANA Chemie Extends China Commitment
Already four wholly owned subsidiaries in China
Wesel, December 10, 2003 -ALTANA Chemie AG, Wesel, is concentrating on the Asian market. With retroactive effect from July 1, 2003, ALTANA Coatings & Sealants has increased its stake in the existing joint venture of China's Shunde Rhenacoat Coating Co. Ltd. from 51% to 100%. By acquiring the remaining shares in Shunde Rhenacoat, the ALTANA Chemie business unit, Coatings & Sealants, is extending its position in China, enabling faster technology transfer to take place and itself to respond even more rapidly to individual customer demands in this market of the future.
Shunde Rhenacoat is a specialist for the packaging sector and industrial applications, and maintains a production site in Shunde in Guangdong province. ALTANA Coatings & Sealants with 876 employees made sales of €221m in 2002. This acquisition has placed the specialist chemicals manufacturer ALTANA Chemie in an optimum position in China. Each business unit is represented in China with its own companies and local production.
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, Germay, 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 with the appropriate special products, for coatings manufacturers, paint and plastics processors, and the electronics industry. The range of products includes additives, special coatings, sealing and plugging compounds, impregnating agents, and testing and measuring instruments. In its target markets the company occupies a leading position in terms of quality, innovation and service.
In 2002 ALTANA Chemie with approx. 2,300 employees achieved sales of €748m. Sectorally, therefore, ALTANA Chemie is among the most innovative, fast-developing and profitable chemical corporations in the world.