ALTANA Acquires Formulated Resins Business from Solvay
- Acquisition includes a production and research facility of Solvay in New York state
- Will be incorporated into the ELANTAS Electrical Insulation division
- Strengthens position as technology leader in electrical insulation and expands business in North America
The specialty chemicals group ALTANA has acquired the Formulated Resins business of Belgian chemical group Solvay. The products are sold primarily under the Conap® brand name. This business generated sales of approximately 20 million USD in 2015. With the acquisition, ALTANA takes over a research and production facility from Solvay with 53 employees in Olean, New York. Within the ALTANA Group, the business will be integrated into ELANTAS PDG, Inc. based in St. Louis, Missouri belonging to the ELANTAS Electrical Insulation division. “By acquiring the formulated resins business of Solvay we are strengthening our position as a technology leader and expanding our business in North America,” CEO of ALTANA AG, Martin Babilas, said.
Conap® products are used in electronics, electrical and specialty adhesive applications. “Formulated resins from Solvay perfectly complement our existing product portfolio”, said Dr. Guido Forstbach, Division President of ELANTAS Electrical Insulation. “It strengthens our business in electronics and we will be able to offer our worldwide customers even more innovative solutions in the field of electrical insulation and beyond.”
ALTANA is a global leader in true specialty chemicals. The Group offers innovative, environmentally compatible solutions for coating manufacturers, paint and plastics processors, the printing and packaging industries, the cosmetics sector and the electrical and electronics industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins and varnishes, and testing and measuring instruments. ALTANA's four divisions, BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation, and ACTEGA Coatings & Sealants, all occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service.
Headquartered in Wesel, Germany, the ALTANA Group has 47 production facilities and more than 50 service and research laboratories worldwide. Throughout the Group about 6,000 people work to ensure the worldwide success of ALTANA. In 2015, ALTANA achieved sales of more than 2 billion euros. About 6 percent of sales are invested in research and development every year. Its high earning power and high growth rate make ALTANA one of the most innovative, fastest growing, and profitable chemical companies in the world.
ELANTAS produces insulating materials for the electrical and electronics industry. They are found in electric motors, household appliances, cars, generators, transformers, capacitors, digital cameras, wind mills, computers, lamps, circuit boards, and sensors, and help to ensure that product design engineers can construct ever smaller and more powerful electronic devices, thus saving materials and energy.
The ALTANA division, which is managed by a holding company headquartered in Wesel/Germany, has nine independent manufacturing companies in all major regions worldwide. In 2015, ELANTAS employed a total workforce of 977 people.
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