International.
The specialty chemical group Altana has acquired the Formulated Resins business from the Belgian chemical group Solvay.
The products are mainly sold under the Conap brand. This business generated sales of approximately US$20 million in 2015. With the acquisition, Altana assumes a Solvay research and production facility with 53 employees in Olean, New York. Within the Altana Group, the business will be integrated into Elantas PDG, Inc., headquartered in St. Louis, Missouri, belonging to the Elantas Electrical Insulation division.
"By acquiring Solvay's formulated resins business we are strengthening our position as a technology leader and expanding our business in North America," said Altana AG CEO Martin Babilas.
Conap products are used in electronic, electrical and special adhesive applications. "Solvay's formulated resins perfectly complement our existing product portfolio," said Dr. Guido Forstbach, Division President of Elantas Electrical Insulation. "It strengthens our electronics business and we will be able to offer our global customers even more innovative solutions in the field of electrical insulation and beyond."
