ALTANA, the specialty chemicals group based in Wesel, Germany, is significantly expanding its presence in China. In April, the ACTEGA division opened a new laboratory building for coatings and sealants at its production site in Foshan. ELANTAS commissioned a new plant for wire enamels in Tongling. And BYK signed a contract for the purchase of a site for developing and manufacturing chemical additives in Shanghai. With these projects, the ALTANA Group is investing a total of more than € 30 million in the further growth of its China business.
"With our investment initiative, we're aiming to increase our presence in Asia further with emphasis on China and take advantage of the enormous market potential here," declared Dr. Matthias L. Wolfgruber, CEO of ALTANA AG. "Consequently, the ability to act rapidly, efficiently and in concert with local managers and employees in these markets is critical for our success." In 2013, ALTANA achieved its highest growth rate in this region in China. The Asian region as a whole grew by seven percent, driven primarily by the increased demand from China. Currently, ALTANA operates eight subsidiaries, five production facilities and ten laboratories in the country. With 450 employees here, the company generated sales of around € 290 million, or 16 percent of its entire global business in 2013.
ALTANA Opens Research Facility For Coatings, Expands Presence In China
Published May 29, 2014
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