- 25 June 2007 -
Altana adds to Eckart effects pigment business

Germany company Altana AG, which now concentrates on the speciality chemicals business, is to acquire the worldwide effect pigments business of UK-based Wolstenholme Group Ltd. In 2006, Wolstenholme achieved sales of about €29 million in this business area. The purchase price for the business is €24 million. Rutland Partners LLP, a financial investor, is the majority owner of the company, which was founded in 1938. The acquisition is subject to approval by the antitrust authorities.

The acquired business comprises bronze and aluminium pigments as well as printing inks based on these pigments for the graphic arts, coatings and plastics industries. The business will be integrated into Eckart, Altana's Effect Pigments division, which generated sales of €339 million in 2006. Altana will not take over Wolstenholme's production plants and employees in Great Britain. Instead, Eckart is going to increase the production capacities in its main factory in the Franconian town of Güntersthal ( Bavaria) accordingly. Wolstenholme will continue to carry out the production of effect pigments on behalf of Eckart until the transfer of the production to Germany will have been fully completed.

The company says that around €10 million will be invested in its production facilities in Güntersthal.

Altana; www.altana.com