"The acquisition not only opens up new growth opportunities, it also emphasizes our strategy focusing on profitable growth and is fully in line with all our acquisition criteria," said Dr. Matthias L. Wolfgruber, ALTANA’s CEO.
ALTANA acquired the rheology business of Roockwood's Performance Additives segment for a purchase price of USD $635 million. The acquired business segment is one of the world's leading suppliers of rheology additives that optimize the flow characteristics of various materials. Rheology additives are used, among other things, in coatings, construction materials, and personal care products. They can, for example, ensure that coatings have the right viscosity and that they can be applied without forming droplets or bubbles.
As a result of the acquisition the number of the ALTANA Group's employees increased by 350 to 5,700. In addition to the administration department in Austin, TX, four new production sites have been taken over: Gonzales, TX, Louisville KY, Widnes, UK and Moosburg, Germany. ALTANA will integrate the acquired rheology business into its BYK Additives & Instruments division.
"BYK is part of one of the most innovative and high-growth specialty chemicals companies worldwide,” said Dr. Christoph Schlünken, Ppresident Division BYK. “We are a leading supplier of wetting and dispersing additives, of air-release, defoaming, and surface-improving additives, of wax additives – and now also of rheological additives."
In order to underline the particular importance attributed to the acquisition and to optimally and smoothly manage the integration of the business, the BYK Additives & Instruments division in Wesel extends its management team, with effect from today. The new management of BYK-Chemie consists of Dr. Christoph Schlünken (chairman of the Management Board), Albert von Hebel, Gerd Judith, and now also Frank Wright, previously managing director of the acquired Rockwood business.