Wesel, January 20th, 2006
ALTANA Chemie Acquires Electrical Insulation Production of INVEX
Strategic and Geographic Expansion of Division Electrical Insulation in the Mercosur Area.
ALTANA Chemie AG, the chemicals division of ALTANA AG (NYSE: AAA, FSE: ALT), has agreedwith INVEX
The newest member of ALTANA Chemie, ALTANA Isolantes Elétricos do Brasil Ltda. further completes the global coverage of the Division Electrical Insulation. ALTANA Chemie intends to expand the production capacity of the plant and will integrate its existing South American electrical insulation business, currently operated by a licensee. ALTANA Chemie is a leading supplier of wire enamels, which are an essential part of electric motors, generators and transformers. INVEX is one of the world’s prominent magnetwire producers and already one of ALTANA Electrical Insulation’s customers.
Angelo Venezia, president of INVEX, Quattordio/Italy commented: “This transaction will allow us to focus on our core activities in wire production while leaving the essential chemical expertise in good hands to the best partner in the market”.
ALTANA Chemie’s Dr. Wolfgang Schütt, President of the Division Electrical Insulation added: “Joining our production facilities in the EU, NAFTA,