Business News
ALTANA acquires effect pigment business of USBP
Thursday 21. August 2008 - The specialty chemicals Group ALTANA has signed a contract to acquire the effect pigment business of the American company United States Bronze Powders Inc. (USBP).
In 2007, USBP achieved sales of approximately $8 million in this business area. USBP retains its powder business as well as its aluminum pigments business. Within the ALTANA Group, the acquired business will be integrated into the ECKART Effect Pigments division, a leading manufacturer of metallic and pearlescent pigments. The acquisition is subject to approval by the antitrust authorities.
The acquired business mainly comprises the production of copper pigments, bronze pigments, stainless steel pigments, as well as press-ready metallic printing inks. USBP generates about 60% of its sales of these pigments in the NAFTA region, and about 15% in each of Asia and Europe. No manufacturing site and no employees are included under the agreement with USBP; the production for this business will be transferred to ECKART’s US Affiliate ECKART America in Painesville, Ohio, and to its main factory in the Bavarian town of Güntersthal in Germany.
“United States Bronze Powders is a company with a long tradition. The acquired product range is a perfect fit for ALTANA and will help to create value”, commented Dr. Matthias L. Wolfgruber, CEO of ALTANA AG. “The acquisition underlines our growth ambitions, which are supported by our operating growth as well as acquisitions.”
“With this acquisition our product range is strategically complemented, we create synergies and improve our position in particular in the North American market”, emphasized Dr. Christoph Schlünken, President Division ECKART Effect Pigments. Of particular interest and advantage was the fact that with the further diversification of its portfolio, ECKART is now able to enter a new, future-oriented area of business with pigments for stainless steel.
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 as well as assumptions made by and information currently available to ALTANA. 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.