Coatings sold off
3 Feb 2005
Altana Chemie, the specialty chemicals division of Altana, is divesting its Austrian subsidiary, Rembrandtin Lack, to EK Mittelstandsfinanzierung, the private equity fund of Bank Austria Creditanstalt for an undisclosed sum.
Rembrandtin, a company within the Altana Coatings & Sealants business unit, specializes in industrial coatings and road marking paints.
In 2004, the company generated sales of around 33 million Euros and employed 127 people.
With the sale of Rembrandtin, Altana Chemie has almost completed its withdrawal from the industrial coatings business. The disposal of its remaining activities in the field is anticipated in the course of this year.
The completion of the sale of Rembrandtin is expected to take place in the first quarter of 2005.
