ROMEOVILLE, IL - Nanophase Technologies Corp., Romeoville, IL, and Altana AG, through its subsidiary BYK Chemie GmbH, have entered into a new non-exclusive supply arrangement and agreed to terminate their existing mutually exclusive relationship.
"The parties are convinced that a new and more flexible basis of cooperation will provide both companies more options and opportunities in their markets instead of the former, restricted agreement," said Jess Jankowski, President and CEO of Nanophase.
In connection with the termination of the parties' existing relationship, Nanophase will provide Altana AG with consideration, in the form of cash and discounts on certain subsequent nanomaterial orders, totaling $700,000.
Nanophase/Altana AG Announce New Supply Agreement
August 29, 2010