Altana Expands its Business in Asia
Elantas Electrical Insulation, a division of the specialty chemicals group Altana AG, Wesel, Germany, has signed a purchase agreement with Changzhou Lantian Ruiqi Chemical Co., Ltd. to acquire the Chinese 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. Both parties have agreed that no details of the purchase price would be disclosed.
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 the company will be enabled to produce an important raw material for wire enamels in-house.
Would you like to subscribe to our Newsletters on plastics technology and profit from the latest information?
Looking for a new challenge? Check out our jobs market!
Patents encourage innovation: Stay on the ball with the latest innovations in the plastics industry in our patents section.