Press release
ALTANA Chemie Acquires Electrical Insulation Production of INVEX
ALTANA Chemie headquarters in Wesel, Germany
Wesel, January 20th, 2006 – ALTANA Chemie AG, the chemicals division of ALTANA AG (NYSE: AAA, FSE: ALT), has agreed with INVEX S.p.A., Italy to buy its captive production of resins for insulating magnet-wire in Cerquilho, Brazil. Completion of the transaction is planned to take place in the second quarter of 2006. ALTANA Chemie will take over the chemical production site, including all employees and production assets. Details of the purchase price have not been disclosed.
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 ca-pacity of the plant and will integrate its existing South American electrical insulation business, currently oper-ated 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, China and India, the Brazilian operation will further complete our global footprint with a presence in the Latin American trading block Mercosur.” Dr. Matthias L. Wolfgruber, President and CEO of ALTANA Chemie AG, supplemented: “So far ALTANA Chemie`s presence in South America was spearheaded by BYK-Chemie, who is operating a technical service lab in São Paulo. This move will establish a bridge head for ALTANA Chemie facilitating the entry of the remaining Divisions on the continent.”
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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 Insula-tion and Coatings & Sealants. ALTANA Chemie provides innovative and environmentally compatible solutions, along with the appropri-ate 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. Sectorally, with an EBITDA of around 19%, ALTANA Chemie is among the most innovative, fast-developing and profitable chemical corporations in the world.
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.
You can also find this press release in digital format at www.altanachemie.com/press
ALTANA Chemie AG
Corporate Communications
T +49 (0) 281 670- 200
F +49 (0) 281 670- 1114
Abelstr. 45 - 46483 Wesel - Germany
Sven Kremser
Head of Corporate Communications
T +49 (0) 281 670- 746
F +49 (0) 281 670- 9746
press@altanachemie.com
www.altanachemie.com
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