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Altana Buys U.S. Specialties Firm

2:20 AM MDT | July 16, 2009 | Natasha Alperowicz

Specialty chemicals group Altana (Wesel, Germany) has agreed to buy Water Ink Technologies (WIT; Lincolnton, NC), a privately owned producer of water-based and UV inks, coatings and varnishes for narrow web applications. It is one of the leading makers of these products in North America. Financial terms of the deal, expected to close in the second half of August, were not disclosed. WIT, with 2008 sales of $34 million and 150 employees, has three production sites at Lincolnton making water-based products, UV inks, and precursors for these products. The...

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