In 2006, Wolstenholme achieved sales of around €29m in this business area.

Rutland Partners LLP, a financial investor, is the majority owner of the company, which was founded in 1938. The acquisition is subject to approval by the antitrust authorities.

The Wolstenholme business acquired by Altana comprises bronze and aluminum pigments as well as printing inks based on these pigments for the graphic arts, coatings and plastics industries.

The business will be integrated into Eckart, Altana’s Effect Pigments division, which generated sales of €339m in 2006.

Altana will not take over Wolstenholme’s production plants and employees in Great Britain but will instead increase production capacity at its main factory in Güntersthal, Bavaria.

Wolstenholme will continue to produce effect pigments on behalf of Eckart until the transfer of the production to Germany will have been fully completed.

"We are happy to purchase the effect pigments activities of Wolstenholme, a successful business with a long tradition," says Dr Matthias Wolfgruber, CEO of Altana AG.

"The acquired business is a perfect fit for Altana and the acquisition underlines our growth ambitions."

Emphasising the importance of the transaction to Altana, Dr. Christoph Schlünken, President Division Effect Pigments, added that the company will invest around €10m at its Güntersthal site in order to take over production from Wolstenholme.

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