Buying production facilities of Changzhou Lantian Ruiqi Chemical, will enable Altana to produce an important raw material for wire enamels in-house.
WESEL, GERMANY: Elantas Electrical Insulation, a division of Altana AG, has signed a purchase agreement with Changzhou Lantian Ruiqi Chemical, China to acquire the company’s business with tris-2-hydroxyethyl isocyanurate (THEIC). Within the framework of the transaction, which is expected to be completed in the third quarter of 2012, Elantas will take over the company’s production facilities in Changzhou, its technology and employees.
Elantas plans to continue the acquired business under the name of ‘Elantas Changzhou Ltd’ and to expand the capacity of the plant. As a result of the acquisition, Elantas will be enabled to produce an important raw material for wire enamels in-house. Therefore, Elantas will be able to offer its customers an even higher quality and more innovative products. “This transaction enables us to focus more on our other activities and to hand over essential chemical know-how to a long-standing and reliable partner,” said Zhu Bo Fan, Chairman, Changzhou Lantian Ruiqi Chemicals.
© WOC News
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