Bad Homburg v. d. Höhe, September 30, 2002
ALTANA opens additives production site in China
Bad Homburg, September 30, 2002 BYK-Chemie GmbH, Wesel, part of ALTANA Chemie, has recently opened a new production site for paint and plastics additives in Tongling, China. Founded towards the end of 2001, BYK-Chemie (Tongling) Co. Ltd. is responsible for operations at the site and plans to increase capacity gradually up to a maximum output of 10,000 tons. The investment volume totals in a single-digit million range in EUR.
The Tongling plant meets all the requirements of modern, efficient production. The quality management team ensures that local raw materials and products comply with the same stringent specifications as the previously imported substances. This means ALTANA Chemie is now able to produce in China with international standards and know-how.
Most of the paint and plastics additives produced at the new site are bought by Chinese customers through the existing sales network. Exports to south-east Asia and other Asiatic markets are planned for later on. This investment reinforces ALTANA Chemie's long-term commitment to the developing Chinese market and ensures its leading position in Asia.
The Chinese market continues to grow in importance. China already accounts for 10% of the total worldwide demand for varnish products and the rate of increase is 7% a year.
The new location gives ALTANA Chemie production capacity for additives in three major markets: Europe, the USA and Asia.
About the company
ALTANA AG (NYSE: AAA) is an international Pharmaceuticals and Chemicals Group with sales of EUR 2.3 billion in 2001 and about 9,500 employees all over the world. Its Pharmaceuticals division, ALTANA Pharma (Constance), concentrates on the areas Therapeutics, Diagnostics and OTC medication, and focuses on innovative pharmaceutical research (gastroenterology, respiratory, oncology). ALTANA Pharma represents a group of about 30 subsidiaries and affiliates in Europe, the Americas and Asia. The Chemicals division, ALTANA Chemie, develops, produces and sells Additives, Coatings and other specialty chemicals worldwide. The Chemicals division has more than 20 subsidiaries and affiliates all over the world.
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's management as well as assumptions made by and information currently available to ALTANA. Many factors that ALTANA is unable to predict with accuracy could cause results materially different from those that may be expressed or implied by such forward-looking statements.
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.