Altana acquires production facilities in China

Altana acquires production facilities in China

10:04 AM, 13th June 2012
Altana acquires production facilities in China

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

0 Comments

Login

Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News


Natpet, A Schulman JV for polypropylene plant in Saudi Arabia

YANBU, SAUDI ARABIA: Jeddah-based National Petrochemical Industrial Company (Natpet), a subsidiary of Alujain Corporation, has entered into a joint ve ...

Read more
Azelis sells polymers business to Gazechim Plastics

ANTWERP, BELGIUM: Azelis announced the sale of the thermoplastic polymers business area to Gazechim Plastics, in line with its strategy to focus on sp ...

Read more
Specialty chemicals to grow at 14 pc in 2012-17, says FICCI

MUMBAI, INDIA: India’s specialty chemicals segment has potential to grow by 13-14 per cent per annum during 2012-17, as per the “Specialty ...

Read more
LyondellBasell gets $4.5 million grant for catalyst technology development

HOUSTON, US: LyondellBasell was awarded a $4.5 million grant by the US Department of Energy (DOE) to develop a catalyst-assisted technology to improve ...

Read more
BP notifies Alfa Access Renova to pursue sale of interest in TNK-BP

LONDON, UK: BP received unsolicited indications of interest regarding the potential acquisition of its shareholding in TNK-BP, a Russian oil company ...

Read more
Jacobs gets Sadara’s contract for three polyethylene trains

PASADENA, US: Jacobs Engineering Group Inc has been awarded an In-Kingdom engineering, procurement and construction management (EPCM) contract for thr ...

Read more