ALTANA Acquires Water Ink Technologies
By Canadian Packaging StaffGeneral acquisition ACTEGA WIT ALTANA AG Inc. Water Ink Technologies
The specialty chemicals ALTANA AG – headquartered in Wesel, Germany – has entered into an agreement to acquire the business of the Lincolnton, North Carolina-based company Water Ink Technologies, Inc., a company that produces primarily water-based and UV inks, coatings and varnishes for narrow web applications.
Among others, these applications are used for packaging printing and labels. In addition, Water Ink Technologies provides extensive customer service through several mixing stations in the U.S. and Canada. With consolidated sales of about $34 million in 2008 and almost 150 employees, the company is one of the leading manufacturers of the mentioned products in North America.
Within ALTANA, Water Ink Technologies will be integrated into the ACTEGA Coatings & Sealants division under the new name ACTEGA WIT. The existing Water Ink Technologies management team, under the leadership of Michael C. and Patrick S. Hague, will continue to run the operations also under the roof of ALTANA.
Along with supplying its products across the U.S., worldwide distribution of Water Ink Technologies is provided by a branch in Brampton, Ontario and by distributors in Mexico and throughout South America.
For more information, visit www.altana.com.