The specialty chemicals group Altana has entered into an agreement to acquire the business of the North American company Water Ink Technologies. The company produces primarily water-based and UV inks, coatings and varnishes for narrow web applications at three sites in North Carolina. Among others, these applications are used for packaging printing and labels.
Within the group, 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.
‘For Actega the acquisition of Water Ink Technologies means a sustained strengthening and the expansion of our market position in the specialty segment of narrow web printing with water-based as well as UV-curing coatings and inks,’ said Dr Guido Forstbach, president of the coatings and sealants division, adding that there would also be synergetic effects with other business fields of Altana. ‘The acquisition is therefore not only positive for Actega, but also opens opportunities for further development of other divisions.’
‘I am pleased that with Altana we found an excellent new parent for our business,’ commented Michael C. Hague, president of Water Ink Technologies. ‘Altana stands for a clear strategy, stability and continuity. I am convinced that we will prosper and our success story will continue under its new owner. Altana’s global presence and its competence in the graphics industry are an excellent basis to expand our product offering and our business also in Europe and Asia.’
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