ALTANA has acquired the specialty coatings business of Henkel. The products, which are sold under the brand names MiraFoil and Miracure, are mainly supplied to the packaging industry in North America. The business generated sales of around $15 million in 2012.
Within the ALTANA group, the business will be integrated into ACTEGA Kelstar Inc. in the U.S. and into ACTEGA Terra GmbH in Germany, both belonging to the ACTEGA Coatings & Sealants division.
“By acquiring the specialty coatings business of Henkel, we are continuing to execute our North American growth strategy consistently and focus on innovative specialty chemicals,” Dr. Matthias L. Wolfgruber, CEO of ALTANA AG, said.
The technologies are acquired by way of an asset deal and include effect and overprint coatings curing under ultraviolet radiation and electron beam. MiraFoil coatings are recognized as an environmentally responsible alternative to foil board laminating and hot foil stamping while being equally brilliant to foil. They can be applied to precise areas, hence, reducing waste and shortening lead times. Miracure coatings provide a range of matte, gloss, satin and silicone coatings for conventional printing processes creating high quality visual appearance, such as glow-in-the-dark or dimensional texture.
“With the specialty coatings business of Henkel we are expanding our product portfolio by two highly innovative and sustainable product families,” Dr. Roland Peter, president Division ACTEGA Coatings & Sealants, said. “Hence, we will be able to offer our customers even better solutions that are tailor-made to their needs.”
“ with our expectations and reflect Vertis' lower margin profile and increased seasonality, and ongoing industry pricing and volume pressures,” said John Fowler, Quad/Graphics executive vice president and CFO. “We are pleased with our recurring free cash flow of $86 million, which was generated during a quarter that normally reflects lower volumes due to industry seasonality. Recurring free cash flow is the foundation of our strong balance sheet and provides us with the flexibility and confidence to invest in our business and pursue value-added opportunities as they arise to ensure strong future cash flow.”