Bad Homburg/Wesel, November 23, 2005
Martin Babilas newly appointed CFO of ALTANA Chemie AG
The Supervisory Board of ALTANA Chemie AG, the Chemicals division of ALTANA AG (NYSE: AAA, FSE: ALT), has appointed Martin Babilas as a Member of the Management Board of ALTANA Chemie AG effective January 1, 2006, today. Martin Babilas will succeed Gerd Buescher on April 1, 2006, as Chief Financial Officer (CFO).
Gerd Buescher will focus on his current position as Managing Director Finance and Administration of the division Additives & Instruments (BYK-Chemie), where he recently assumed additional responsibility for the whole supply chain and IT.
Following a bank traineeship, Martin Babilas (34) studied business administration in Trier (Germany) and obtained an MBA in Worcester, MA (USA). In 1998, he joined ALTANA AG as assistant to the CFO. In 2001, he moved to ALTANA Chemie as Head of Strategic Business Development. In this role, he contributed to the further development of ALTANA Chemie, most recently as project manager for the ECKART acquisition.
ALTANA Chemie develops and produces high-quality, innovative products in the specialty chemicals business. The 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 Divisions Additives & Instruments, Effect Pigments, Electrical Insulation and Coatings & Sealants. 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, effect pigments, 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 2004 ALTANA Chemie, with over 2,500 employees, achieved sales of €854m. Sectorally, with an EBITDA of around 19%, ALTANA Chemie is among the most innovative, fast-developing and profitable chemical corporations in 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 ALTANA’s actual results, performance or achievements to be 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.