Specialty Chemicals Group ALTANA Invests $135M in Landa Digital Printing
WESEL, GERMANY and REHOVOT, ISRAEL—June 25, 2014—The specialty chemicals Group ALTANA and Landa Corp. have concluded an equity financing agreement under which ALTANA will invest €100 million (~US$135 million) for a minority stake in Landa Digital Printing. Both companies see the agreement not only as a financial investment, but also as a starting point for a long-term strategic partnership to bring digital printing solutions to the commercial, packaging and publishing markets. Other units of the Landa Group, including Landa Labs and Landa Ventures, are not included in the transaction.
The proceeds will be used for completing the development of Nanography, Landa's water-based digital printing process, including engineering and production ramp-up of Landa Nanographic Printing Presses and building of manufacturing plants for Landa NanoInk colorants.
ALTANA is expected to be an active partner, drawing on print industry expertise gained from its divisions including BYK Additives and Instruments, ECKART Effect Pigments, and ACTEGA Coatings and Sealants.
"We are extremely excited to be partnering with an industry visionary like Benny Landa," said Dr. Matthias L. Wolfgruber, CEO, ALTANA AG. "We speak the same language in terms of innovation. I am confident that we are investing in a game-changing technology that can enable the printing industry to thrive in the 21st century and help our customers position themselves well for the future."
Benny Landa, Chairman and CEO of Landa Corp. commented on the partnership: "We see our alliance with the ALTANA Group as a key milestone for our company and a strong vote of confidence in our mission to bring digital printing to mainstream commercial, packaging and publishing markets. ALTANA brings a wealth of relevant industry and market experience, as well as worldwide manufacturing expertise, which will be of great value as we expand our presence globally."
ALTANA develops and produces high-quality, innovative products in the specialty chemicals business. The ALTANA Group, with headquarters in Wesel, Germany, is a genuine "global player" with about 85 percent of its sales generated by international activities. The ALTANA Group has four divisions: BYK Additives and Instruments, ECKART Effect Pigments, ELANTAS Electrical Insulation, and ACTEGA Coatings and Sealants. All of these divisions occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service.
ALTANA offers innovative, environmentally compatible solutions with the matching specialty products for coating manufactures, paint and plastics processors, the printing and cosmetic industries, and the electrical and electronics industry. The product range includes additives, special coatings and adhesives, effect pigments, sealants and compounds, impregnating resins and varnishes, and testing and measuring instruments. At present, the ALTANA Group has 46 production facilities and more than 50 service and research laboratories worldwide. Throughout the group more than 5,700 people work to ensure the success of ALTANA worldwide. In 2013, ALTANA achieved sales of around 1.8 billion euros. Its impressive earning power and high growth rate make ALTANA one of the most successful and innovative chemical groups worldwide.
Landa Digital Printing is part of the Landa Group. Its Nanographic Printing technology bridges the industry's "Profitability Gap"—cost-effectively producing short-to-medium run-lengths. Landa Nanographic Printing Presses yield the lowest cost per digitally printed page in the industry and combine the versatility of digital with the qualities and speed of offset. Furthermore, it allows its customers to develop new business models like bringing personalization to packaging and to take complexity out of their current analog workflows. Founded by Benny Landa, the Landa Group also includes Landa Labs, its innovation arm that explores nanotechnology for use in alternative energy, drug delivery and other fields; Landa Ventures, which invests in related technology firms; and the Landa Fund, which helps underprivileged youth pursue higher education. Benny Landa continues to add to his portfolio of over 800 patents worldwide, that provide the companies he founded with a solid intellectual property base.
Source: ALTANA and Landa.