ALTANA Invests $135M in Landa Digital Printing
WESEL, GERMANY and REHOVOT, ISRAEL—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."