ALTANA Chemie sells coil coating business of Rhenania Coatings

Citation

(2006), "ALTANA Chemie sells coil coating business of Rhenania Coatings", Pigment & Resin Technology, Vol. 35 No. 2. https://doi.org/10.1108/prt.2006.12935bab.010

ALTANA Chemie sells coil coating business of Rhenania Coatings

ALTANA Chemie sells coil coating business of Rhenania Coatings

ALTANA Chemie AG, the chemicals division of ALTANA AG (FWB: ALT, NYSE: AAA), has sold the industrial coatings business of Rhenania Coatings GmbH, Grevenbroich to BASF Coatings AG, Münster. A respective agreement was signed on 30 September 2005; the completion of the transaction is expected to take place in the fourth quarter of 2005 once the relevant anti-trust authorities have given their approval. Both parties have agreed not to disclose financial details of the transaction. The agreement involves the purchase of products, technologies and customer lists. Sites and production systems are not part of the deal. In 2004, the coil coatings business of Rhenania Coatings GmbH recorded sales of around 8 million. As announced, ALTANA Chemie has now completed the divestment of its industrial coatings activities in the Division Coatings & Sealants. Rhenania Coatings is now focusing on specialty coatings and coating problem solutions for the packaging industry, and is well equipped to do so in the future due to the modern production facility at the Grevenbroich plant. The sale of the industrial coatings activities of Rhenania Coatings is another, consequent step in the strategic reorientation of Coatings & Sealants: on fast-growing segments in the market for technically demanding secondary materials used in the manufacture of packaging. In the same context, we published on 29 September.