ALTANA Chemie sells Rhenacoat's coil coating business to Akzo Nobel
The divested unit employs some 60 people and generated sales of EUR 11.6 million in 2003. Details of the sale price were not disclosed. Akzo Nobel is to take over the entire workforce, know-how and all the coil coating production facilities in Montataire. This leaves Rhenacoat free to concentrate exclusively on packaging coatings in Sedan, the one remaining site in France.
"The sale of the Rhenacoat coil coating business in France is another logical step in the strategic realignment of ALTANA Coatings & Sealants, which is aimed at withdrawing from the industrial coatings sector to concentrate on building up highpotential niches - such as chemical solutions for flexible packagings - in the specialty chemicals market", explains Dr. Guido Forstbach, Business Unit Manager and Managing Director of ALTANA Coatings & Sealants GmbH. "We remain committed to a strategy of operating only in sectors requiring a high pace of innovation and a high level of technical support."
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