ALTANA AG acquires Solvay’s formulated resins business

The formulated resins portfolio mainly entails the CONAP brand epoxy resin and polyurethane product systems.

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ALTANA AG’s (Wesel, Germany) has bought Solvay's (Brussels, Belgium) formulated resins business. Under the agreement, Solvay’s global business unit technology solutions will divest the business line that generated sales of $20 million in 2015. The divestment includes the formulated resins product portfolio, the manufacturing and R&D facility based in Olean, New York and all associated technical, commercial and administrative staff.

The formulated resins portfolio mainly entails the CONAP brand epoxy resin and polyurethane product systems and serves electronics, electrical and specialty adhesives markets. Completion of the transaction is subject to customary closing conditions, including antitrust approvals, and is expected in the first half of 2017.

“The divestment represents a strong strategic fit for both Solvay and ELANTAS,” says Michael Radossich, president of Solvay Technology Solutions. “This transaction enables Technology Solutions to further extend our leadership position in our core polymer additives business. In ALTANA, the formulated resins business has a strategic buyer to position it for continued growth.”