Altana Chemie signs agreement to acquire Eckart.Altana Chemie AG, Wesel, Germany, has signed an agreement to acquire Eckart GmbH & Co., which is headquartered in Germany. Altana Chemie is the Specialty Chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. division of Altana AG. The acquisition agreement includes Eckart's entire worldwide business of metallic effect pigments for applications in paints and printing inks, plastics, and cosmetics, as well as technical applications. In addition to the acquisition of Eckart's products and technology, Altana Chemie will also get access to new customer segments and markets, especially in the cosmetics and the building and construction industries. Following regulatory approval, the full integration of Eckart is expected to take place in the fourth quarter of 2005. In 2004, Eckart achieved a sales volume of 302 EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. million and operating earnings Operating Earnings Profits after subtracting expenses such as marketing, cost of goods sold, administration and general operating costs from revenue. Notes: Tax and interest expenses are not subtracted - operating earnings are synonymous with EBIT (earnings before (EBITA EBITA Earnings Before Interest Taxes Amortization ) of 65 EUR million. With an EBITA margin of 21%, Eckart ranks among the most profitable worldwide specialty chemicals companies. Eckart has about 1,850 employees. Regarding Altana Chemie, the company generated sales of 854 EUR million in 2004 and had operating earnings of 159 EUR million (about a 19% EBITA margin). For a number of years, Altana Chemie has been one of the strongest international specialty chemicals companies with respect to growth and earnings. Eckart will be maintained as an established brand and will become the fourth business unit of Altana. All existing Eckart product fields, sites, and employees will be retained by Altana. Altana will now have eight new production sites and its employee count will be "significantly over" 4,000. Due to the Eckart acquisition, the bolstered bol·ster n. A long narrow pillow or cushion. tr.v. bol·stered, bol·ster·ing, bol·sters 1. To support or prop up with or as if with a long narrow pillow or cushion. 2. Altana Chemie company is expected to achieve a pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma sales volume of about 1.2 EUR billion and an EBITA margin of about 20% of sales. The purchase of Eckart represents the largest acquisition in the history of the Altana Group, Altana Chemie's parent company. The Altana Group has announced that Altana Chemie will be separated as an independent and listed company listed company n → compañía cotizable listed company n → société cotée en Bourse listed company list n → . In addition, the Altana Group has announced intentions to make Altana Pharma, the group's pharmaceutical division, an independently operated and listed company. |
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