ALTANA Chemie Strengthens Its Packaging Coatings Business.BAD HOMBURG & WESEL, Germany -- ALTANA AG (NYSE NYSE See: New York Stock Exchange :AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. )(FWB (Fixed Wireless Broadband) See fixed wireless. :ALT)(GER GER German/Germany GER Gastroesophageal Reflux GER Geriatrics GER General Education Requirement GER Great Eastern Railway (UK) GER Gross Enrollment Ratio (education) GER Gain Electrons Reduction :ALT): --Acquisition of Rad-Cure improves market access in North America --Bolt-on acquisition in the Coatings & Sealants division ALTANA AG (NYSE:AAA)(FWB:ALT)(GER:ALT) has announced today that ALTANA Chemie AG signed an agreement on January 31, 2006, to acquire the U.S.-American Rad-Cure Corporation. Rad-Cure is a specialist in the field of overprint o·ver·print tr.v. o·ver·print·ed, o·ver·print·ing, o·ver·prints To imprint over with something more, especially to print over with another color. n. 1. A mark or impression made by overprinting. UV curable cur·a·ble adj. Capable of being cured or healed. coatings and adhesives for the paper and board packaging sector. The completion of the transaction is planned for the first quarter 2006. With this acquisition in the packaging materials area, ALTANA Chemie will further strengthen its market presence in North America after the recent acquisition of Kelstar, and has taken another step for the consolidation of its Coatings & Sealants division. Rad-Cure, headquartered in Fairfield, New Jersey, generated sales of approximately US$10 million in 2005. ALTANA Chemie will take over the market specialist for packaging, including all employees and production assets. Details of the sales price have not been disclosed. "The acquisition of Rad-Cure is an additional step to further strengthen the Division's footprint in the specialized packaging coatings area," Dr. Guido Forstbach, President Division Coatings & Sealants comments. "Rad-Cure allows us to enrich our UV and adhesives product portfolio in the U.S. market with well recognized technology. The business is - like all ALTANA Chemie businesses - strongly innovation and service oriented and fits perfectly into the overall strategy." "With this acquisition we are strengthening the Division Coatings & Sealants in North America with a complementary market access and thereby continue to enhance our global position in the area of packaging coating," Dr. Matthias L. Wolfgruber, Member of the Management Board of ALTANA AG and President & CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of ALTANA Chemie AG, explains. "The acquisition of Rad-Cure opens up new possibilities in the label printing market which is a valuable asset to our ,graphic arts' operation within ALTANA Coatings & Sealants." Forward-looking statements are only valid on the day they are made. ALTANA does not intend nor accept any obligation to project forward-looking statements or adapt them to future events or developments. This press release is also available on the Internet at www.altana.com. |
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