Altana Chemie acquires Rad-Cure Corporation
Altana Chemie AG, of Wesel, Germany, signed an agreement in January to acquire Rad-Cure Corporation, a specialist in the field of overprint UV curable coatings and adhesives for the paper and board packaging sector. The completion of the transaction is planned for the first quarter 2006. Rad-Cure is based in Fairfield, NJ, USA.
With this acquisition, Altana Chemie will further strengthen its market presence in North America after the recent acquisition of Kelstar, and has taken another step for the consolidation of its coatings and sealants division.
Rad-Cure generated sales of approximately US$10 million in 2005. Altana Chemie will take over the market specialist for packaging, including all employees and production assets. Details of the sales price were not disclosed.
“The acquisition of Rad-Cure is an additional step to further strengthen the division’s footprint in the specialized packaging coatings area,” says Guido Forstbach, president of the coatings and sealants division. “Rad-Cure allows us to enrich our UV and adhesives product portfolio in the US market with well recognized technology.”