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| | Fourth business unit for ALTANA Chemie |
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date: Aug 6th 2005 15:16
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“ALTANA Chemie is the ideal partner for us. On the one hand, the group maintains first-rate contacts in international markets. It has an enormous know-how of product applications and the necessary financial power to drive forward ongoing innovation and expansion processes. Furthermore, ALTANA can look back on a long family tradition, just like ECKART, and its corporate culture is very similar to ours. Therefore, the acquisition will safeguard the long-term future of our company. This is good news for all ECKART customers and employees. ECKART will be in good hands with ALTANA , said Carl Friedrich Eckart, managing partner of the ECKART group.
ALTANA Chemie AG will maintain all product fields, sites and employees. ECKART will be maintained as an established brand and will become the fourth business unit of ALTANA Chemie AG. With the ECKART acquisition, the new ALTANA Chemie is expected to achieve a pro forma sales volume of about €1.2 billion and an EBITDA margin of about 20% of sales. There will be eight new production sites and the number of ALTANA Chemie’s employees will rise to significantly over 4,000.
In 2004, ALTANA Chemie generated sales of €854 million, its operating earnings totaled €159 million (around 19% EBITDA margin). For many years now, the company has been one of the strongest international specialty chemicals companies with regard to growth and earnings. “With the acquisition of the ECKART group ALTANA Chemie’s profitability will be strengthened even further”, said Dr. Wolfgruber regarding the strategic importance of the acquisition.
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article 'Fourth business unit for ALTANA Chemie' source is Altana Pharma AG, visit source site:
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