WESEL, Germany – ELANTAS Electrical Insulation, a division of the specialty chemicals group ALTANA AG, has signed a purchase agreement with Changzhou Lantian Ruiqi Chemical Co. Ltd. to acquire the Chinese company's tris-2-hydroxyethyl isocyanurate business. Within the framework of the transaction, which is expected to be completed in the third quarter of 2012, ELANTAS will take over the company's production facilities in Changzhou, its technology and employees.
ELANTAS plans to call the acquired business ELANTAS Changzhou Ltd. and to expand the capacity of the plant. As a result of the acquisition, ELANTAS will be able to produce an important raw material for wire enamels in-house.
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