- August 13, 2009
WESEL, GERMANY | The specialty chemicals Group ALTANA has entered into an agreement to acquire the business of Water Ink Technologies, Inc. The company produces primarily waterbased and UV inks, coatings, and varnishes for narrow web applications at three sites in North Carolina.
Among others, these applications are used for packaging printing and labels. In addition, Water Ink Technologies provides extensive customer service through several mixing stations in the US and Canada. The company has consolidated sales of about $34 million in 2008 and almost 150 employees.
With the acquisition of Water Ink Technologies, ALTANA underlines its continued commitment to complement organic growth also with selected acquisitions as it did successfully in the past. Within the Group, Water Ink Technologies will be integrated into the ACTEGA Coatings & Sealants division under the new name ACTEGA WIT. The existing Water Ink Technologies management team, under the leadership of Michael C. and Patrick S. Hague, will continue to run the operations also under the roof of ALTANA.