ALTANA Chemie sells Rhenacoat’s coil coating business to Akzo Nobel
Concentration on growth market in packaging coatings
Wesel, July 12, 2004 – ALTANA Chemie AG, the specialty chemicals business of ALTANA AG (NYSE: AAA, FSE: ALT), has sold the coil coating business of its French subsidiary, Rhenacoat S.A., Montataire, to Dutch-based Akzo Nobel. Rhenacoat S.A. is part of the ALTANA Coatings & Sealants business unit specialized in packaging and industrial coatings.
The divested unit employs some 60 people and generated sales of € 11.6 million in 2003. Details of the sale price were not disclosed. Akzo Nobel is to take over the entire workforce, know-how and all the coil coating production facilities in Montataire. This leaves Rhenacoat free to concentrate exclusively on packaging coatings in Sedan, the one remaining site in France.
“The sale of the Rhenacoat coil coating business in France is another logical step in the strategic realignment of ALTANA Coatings & Sealants, which is aimed at withdrawing from the industrial coatings sector to concentrate on building up highpotential niches - such as chemical solutions for flexible packagings - in the specialty chemicals market”, explains Dr. Guido Forstbach, Business Unit Manager and Managing Director of ALTANA Coatings & Sealants GmbH. “We remain committed to a strategy of operating only in sectors requiring a high pace of innovation and a high level of technical support.”
ALTANA Chemie develops and produces high-quality, innovative products in the specialty chemicals business. The specialty 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 holding 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. The range of products includes additives, special coatings, sealants, compounds, impregnating agents, and testing and measuring equipment. In its target markets the company occupies a leading position in terms of quality, product solutions, innovation and service. In 2003 ALTANA Chemie, with over 2,600 employees, achieved sales of €775m. Sectorally, therefore, ALTANA Chemie is among the most innovative, fast-developing and profitable chemical corporations in the world.