ALTANA Chemie acquires Kelstar International

Strategic Expansion of ALTANA Coatings & Sealants in the Area of Packaging Coatings in the US

04-Oct-2005

Altana Chemie AG, the chemicals division of ALTANA AG, has signed an agreement to acquire Kelstar International, a US producer of water based and UV curable overprint coatings for the paper and board packaging sector. The completion of the transaction is planned to take place in the fourth quarter of 2005. With this move, ALTANA Chemie will strengthen its market presence in North America after the strategic reorientation of ALTANA Coatings & Sealants towards packaging solutions.

Kelstar, headquartered in Cinnaminson near Philadelphia operates a production facility with around 100 employees. Sales turnover in 2004 was approximately US $ 48,5m. ALTANA Chemie will take over the fast growing company, including all employees and the production assets. Details of the sales price have not been disclosed.

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