Germany: Altana Acquires Formulated Resins Business from Solvay Electrical Insulation Business
The specialty chemicals group Altana has acquired the Formulated Resins business of Belgian chemical group Solvay.
Wesel/Germany — The products are sold primarily under the Conap brand name. This business generated sales of approximately $ 20 million in 2015. With the acquisition, Altana takes over a research and production facility from Solvay with 53 employees in Olean, New York. Within the Group, the business will be integrated into Elantas PDG, Inc. based in St. Louis, Missouri belonging to the Elantas TAS Electrical Insulation division.
“By acquiring the formulated resins business of Solvay we are strengthening our position as a technology leader and expanding our business in North America,” CEO of Altana A AG, Martin Babilas, said. Conap products are used in electronics, electrical and specialty adhesive applications. “Formulated resins from Solvay perfectly complement our existing product portfolio”, said Dr. Guido Forstbach, Division President of Elantas Electrical Insulation. “It strengthens our business in electronics and we will be able to offer our worldwide customers even more innovative solutions in the field of electrical insulation and beyond.”