ALTANA Chemie sold and transferred its shareholding in Salchi Rhenacoat
Wesel, August 3, 2004 – ALTANA Coatings & Sealants, a business unit of ALTANA Chemie AG, Wesel, has sold and transferred its 51 % shareholding in Salchi Rhenacoat s.r.l., Milan, ltaly, to its 49% joint-venture partner, a private family holding. The joint venture had been established by the two joint venture partners in 1993 and has since then successfully developed its business with coil and packaging coatings. Salchi Rhenacoat had sales of EUR 27 million in 2003.
ALTANA Chemie has sold its shareholding for strategic reasons, because coil coatings, a relevant part of Salchi Rhenacoat business, is not any more regarded as a core business of ALTANA Chemie. The parties have agreed on a further long term technical and commercial cooperation in the area of foil and can coatings.
ALTANA Chemie develops and produces high-quality, innovative products in the specialty chemicals sector. ALTANA Chemie AG with its headquarters in Wesel, Germany, is the holding company for the three business units Additives & Instruments, Coatings & Sealants, and Electrical Insulation. ALTANA Chemie provides innovative and environmentally compatible solutions, along with the appropriate specialty products, for coatings manufacturers, paint and plastics processors, and the electronics industry. Its range of products includes additives, specialty coatings, sealing and 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.