The acquired technologies will be integrated into Altana's Actega North America division, where they are to be developed to market maturity. Altana also takes over an interdisciplinary team of researchers. The parties have agreed not to disclose the purchase price.
“We are very pleased to have found a new owner in Altana who is in a position to integrate our innovation pipeline into its core business and to bring it to market readiness,“ says Benjamin Lux, president of NuLabel Technologies, Inc. “We know that our innovation team and our technology solutions are in the best of hands with Actega, a company that has long-standing experience as a leader of new and sustainable technologies for the packaging industry.“
Lux will join the Actega North America team and industry veteran Harold Schofield will continue leading NuLabel as interim CEO.
“NuLabel’s innovation team, intellectual property, and projects are an ideal addition to our growing portfolio,“ comments Mark Westwell, president and CEO of Actega North America. “They have the potential to provide new growth opportunities to our customers in the packaging industry, and, at the same time, to make an important contribution to sustainability.“