With the sale of Rembrandtin, ALTANA Chemie has almost completed its withdrawal from the industrial-coatings business. The disposal of the remaining peripheral activities in this area is anticipated in the course of 2005.
ALTANA Chemie Divests Rembrandtin Lack
March 1, 2005
WESEL, Germany - ALTANA Chemie AG, the Specialty Chemicals Division of ALTANA AG, is divesting its Austrian subsidiary, Rembrandtin Lack Ges.m.b.H., Vienna, to EK Mittelstandsfinanzierung AG, the private equity fund of Bank Austria Creditanstalt AG (HypoVereinsbank Group). The respective agreement was signed at the end of January 2005 and is subject to approval of the relevant cartel authorities. The completion of the transaction is expected to take place in the first quarter of 2005. Rembrandtin, a company within the ALTANA Coatings & Sealants business unit, specializes in industrial coatings and road-marking paints.