The specialty chemicals group has signed a contract to acquire the business of Chemical Corporation of America, a U.S. manufacturer of water-based wax products and specialty additives for a wide range of industries, including that of the personal care sector.
"ChemCor is an ideal complement to our position in the wax additives business, which was previously occupied, especially in Europe, by BYK-Cera and has now been significantly strengthened beyond the region. Strategically we are very well placed to offer our wax additive customers a high level of innovative strength and service," says CEO Dr. Matthias L. Wolfgruber.
ChemCor's family business headquartered in Chester in the state of New York, generates yearly sales of around $17m and by way of an asset deal, Altana will now acquire the production site together with the staff employed there.
The business will be integrated into BYK USA, which is based in Wallingford, Connecticut and belongs to the Altana Additives & Instruments division.