 "Altana acquires Solvay's formulated resins business")
The specialty chemicals group Altana has acquired the formulated resins business of Belgian chemical group Solvay. This business, which sells the products primarily under the Conap brand name, generated sales of approximately $ 20 million in 2015.
With the acquisition, Altana takes over a research and production facility from Solvay with 53 employees in Olean (New York, USA). Within the Altana Group, the business will be integrated into Elantas PDG Inc based in St. Louis (Missouri, USA) belonging to the Elantas Electrical Insulation division. “By acquiring the formulated resins business of Solvay we are strengthening our position as a technology leader and expanding our business in North America,” said Martin Babilas, CEO of Altana AG.
Conap products are used in electronics, electrical and specialty adhesive applications. “Formulated resins from Solvay perfectly complement our existing product portfolio. It strengthens our business in electronics and we will be able to offer our worldwide customers even more innovative solutions in the field of electrical insulation and beyond,” said Dr Guido Forstbach, division president of Elantas Electrical Insulation.
The Wesel (Germany) headquartered Altana group, which recorded sales of more than Euro 2 billion in 2015, has four divisions - BYK Additives & Instruments, Eckart Effect Pigments, Elantas Electrical Insulation, and Actega Coatings & Sealants. Elantas produces insulating materials for the electrical and electronics industry. These products are found in electric motors, household appliances, cars, generators, transformers, capacitors, digital cameras, wind mills, computers, lamps, circuit boards, and sensors.
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