ALTANA acquires production facilities from Changzhou Lantian Ruiqi Chemical, China
ELANTAS Electrical Insulation, a division of ALTANA AG, has signed a purchase agreement with Changzhou Lantian Ruiqi Chemical Co., Ltd. to acquire the Chinese company's business with Tris-2-hydroxyethyl Isocyanurate (THEIC). 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. Both parties have agreed that no details of the purchase price would be disclosed.
ELANTAS plans to continue the acquired business under the name of 'ELANTAS Changzhou Ltd.' and to expand the capacity of the plant. As a result of the acquisition ELANTAS will be enabled to produce an important raw material for wire enamels in-house. Therefore, ELANTAS will be able to offer its customers an even higher quality and more innovative products. Lantian's current customers can trust ELANTAS to supply them with THEIC in the future too.
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