Altana abandons purchase of assets in China

Altana (Wesel, Germany) says its Elantas electrical insulation division and Changzhou Lantian Ruiqi Chemical (Changzhou, China) have decided not to go ahead with the previously announced acquisition of Changzhou Lantian Ruiqi’s tris(2-hydroxyethyl) isocyanurate business by Elantas. Plans for the acquisition were announced last June. Elantas planned to take over the company's production facilities at Changzhou, its technology, and its employees; and to expand the capacity of the plant. “Crucial to this mutual decision [to abandon the acquisition]...

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