Altana buys Netherlands wax additives business

24 November 2008 19:46  [Source: ICIS news]

HOUSTON (ICIS news)--Germany's Altana has signed a contract to acquire most of Dutch wax additives manufacturer Dick Peters from Clariant International, the specialty chemicals company said on Monday.

Altana said it will pay about €17.5m ($22.0m).

Dick Peters, which is based in Denekamp, the Netherlands, had sales of €24m in 2007, Altana said. Dick Peters produces wax additives, which are used in moulds for the steel and mechanical engineering industries, in adhesives and printing inks.

Altana said it will “acquire the major part of the wax additives business with sales of about €20m; the remaining part of the business stays with Clariant”.

Altana said it will take over the production site in Denekamp and its staff of about 35 employees.

Dick Peters will be integrated into Altana’s BYK Cera business, which is also located in the Netherlands, Altana said.

The transaction is subject to the approval of anti-monopoly regulators.

($1 = €0.79)

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By: Brian Ford
+1 713 525 2653

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