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The specialty chemicals group ALTANA has signed a contract to acquire the business of Chemical Corporation of America Inc. (ChemCor), a U.S. manufacturer of specialty wax additives.
The family business headquartered in Chester in the state of New York generates yearly sales of around 17 million USD. By way of an asset deal, ALTANA will acquire the production site in Chester, NY together with the staff employed there. The business will be integrated into BYK USA Inc., which is based in Wallingford, Connecticut and belongs to the ALTANA Additives & Instruments division.
ChemCor produces water-based wax products and specialty additives for a wide range of industries including floor finishes, exterior paint and deck stains, graphic arts coatings and inks as well as mold release products. “In acquiring ChemCor, ALTANA is continuing its growth strategy in the USA,” CEO of ALTANA AG, Dr. Matthias L. Wolfgruber, emphasizes. “ChemCor is an ideal complement to our position in the wax additives business, which was previously occupied, especially in Europe, by BYK-Cera and has now been significantly strengthened beyond the region. Strategically we are very well placed to offer our wax additive customers a high level of innovative strength and service.”
Dr. Christoph Schlünken, President Division BYK Additives & Instruments, is of the view: “The product portfolio of ChemCor does not just open up the American market in the area of wax additives alone; for BYK, new market segments, such as wax additives for industrial applications, also become accessible. What’s more, the ChemCor site in Chester can also continue to grow through our know-how and our customer base locally.”
About ALTANA:ALTANA develops and produces high-quality, innovative products in the specialty chemicals business. The company, with headquarters in Wesel/Germany, is a genuine “global player” with about 85% of its sales generated by international activities. The ALTANA Group has four divisions: BYK Additives & Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation, and ACTEGA Coatings & Sealants. All of these divisions occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service.
The company offers innovative, environmentally compatible solutions with the matching specialty products for coating manufactures, paint and plastics processors, the printing and cosmetic industries, and the electrical and electronics industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins and varnishes, and testing and measuring instruments. At present, the ALTANA Group has 41 production facilities and more than 50 service and research laboratories worldwide. Throughout the group about 5,350 people work to ensure the success of ALTANA worldwide. In 2011, the company achieved sales of more than 1.6 billion euros. Its impressive earning power and high growth rate make ALTANA one of the most successful and innovative chemical groups worldwide.