Two major announcements have
come from the global special effect
pigments market. In August, Altana
Chemie announced plans to acquire
Eckart GmbH & Co., KG, a leading
privately held manufacturer of
metallic effect pigments for paint,
printing inks, plastics and cosmetics.
Just a few weeks later came the
announcement that Wolstenholme
and Schlenk had decided to end their
long-term joint venture, MD-Both,
and operate independently in North
America as of Sept. 15.
“The acquisition of Eckart is associated
with an attractive synergy
potential since we will be able to open
additional growth possibilities and
make optimum use of Altana
Chemie’s existing areas of competence
and structures,” said Matthias
L. Wolfgruber, president and CEO of
Altana Chemie AG, on the planned
transaction, which at €630 million, is
Altana’s largest acquisition to date.
“Due to Eckart’s clear focus on specialty
chemicals and its leading position
in closely related markets, the
company is an excellent strategic fit
for Altana Chemie, with which we
will further enhance our innovation
potential and our competence in the
market.”
“Altana Chemie is the ideal partner
for us,” said Carl Friedrich Eckart,
managing partner of the Eckart
Group. “On the one hand, the group
maintains first-rate contacts in international
markets. It has an enormous
know-how of product applications and
the necessary financial power to drive
forward ongoing innovation and
expansion processes…Therefore, the
acquisition will safeguard the longterm
future of our company.”
In the deal, Altana will acquire
Eckart’s entire business. Last year,
Eckart had sales of €302 million and
operating earnings of €65 million.
The company employs approximately
1,865 people worldwide.
Since 1982, MD-Both Industries, a
supplier of metallic inks and bronze
and aluminum pigments, has operated
as a joint venture between UK-based
Wolstenholme International Ltd. and
Germany-based Carl Schlenk AG.
“After careful consideration, it has
been decided that MD-Both Industries
no longer serves the long-term strategic
interest of both of these two companies,
and will cease trading Sept.
14, 2005,” the companies announced in
a statement.
Wolstenholme and Schlenk will
operate independently in the North
American market and will continue to
support MD-Both’s customers through
each of their own North American
operations.
Schlenk Metallpulver GmbH has
formed Schlenk-Both Metallic
Pigments in Ashland, MA. From the
facility previously occupied by MDBoth,
Schlenk-Both Metallic Pigments
will begin taking customer orders for
aluminum, bronze and copper pigments,
as well as metallic finished
inks on Sept. 15.
Wolstenholme International,
founded in 1938, will operate independently
in North America and will
continue to support its customers
from its Chicago base where it has
manufacturing, technical support,
product development and customer
service operations, the company said.