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Altana AG (styled as ALTANA) is a German chemical company headquartered in Wesel. It was created in 1977, as a result of spinning off divisions from the Varta Group.[4][self-published source] The first CEO was Herbert Quandt.

Key Information

The group comprises the divisions BYK (coating additives and instruments), Eckart (metal effect pigments and metallic printing inks), Elantas (insulation materials for the electrical and electronics industries) and Actega (coatings and sealant compounds for the packaging industry).

The Altana Group has 66 production facilities and 69 service and research laboratories worldwide. In 2024, the company, with around 8,400 employees, posted revenues of over €3 billion.[3]

History

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Altana's roots go back to 1873, when Heinrich Byk founded the chemicals factory Dr. Heinrich Byk Chemische Fabrik in Oranienburg. The company grew, and in 1931, it was renamed BYK-Gulden Lomberg. In 1941, majority control of the company was acquired by AFA (Akkumulatoren-Fabrik AG) which was renamed VARTA in 1962. In 1977, VARTA was split into three companies, one of which was Altana.[5]

From 1977 to 2010, Altana was publicly traded on the Frankfurt Stock Exchange. Altana was also admitted to trading on the New York Stock Exchange from 2002 to 2007.

On 19 December 2006, the majority of shareholders voted to approve the sale of the pharmaceuticals division to the Danish company Nycomed.[6] Nycomed is owned by an investment consortium led by Nordic Capital and Credit Suisse. With the sale of the pharmaceuticals division, headquartered in Konstanz, Germany, Altana lost a major pillar of its business. At that time, 9,000 of the company's 13,500 employees were working for Altana in the pharmaceuticals sector, generating two-thirds of the company's total revenue. And indeed, the balance-sheet revenues fell by around 60 percent in 2006, but gained over six percent in 2007.

The patent for pantoprazole, a stomach ulcer and reflux treatment drug, the main revenue-generator for the former pharmaceuticals division, expired in 2009/2010. While the Altana Management Board justified the divestiture of the pharmaceutical business with delays in the approval of new products, increased research and development costs as well as strict regulatory requirements in the US and Europe, shareholder activists asserted that the management board had invested too little in the pharmaceutical business in the preceding years and had failed to develop successor products in time to compensate for the revenue losses to be expected due to the expiry of the pantoprazole patent at the end of the decade.

The pharmaceuticals division was sold for €4.6 billion. The entire proceeds from the sale were disbursed to the shareholders, who received a special dividend of €33 per share. Critics expressed discontent that the main shareholder benefited most from the sale of the pharmaceuticals division.

Until 1 January 2007, the company was organized into the pharmaceuticals division Altana Pharma AG, formerly Byk Gulden Lomberg Chemische Fabrik, headquartered in Konstanz, and the specialty chemicals division Altana Chemie AG based in Wesel. Since the sale of the pharmaceutical business to Nycomed, Altana has been operating exclusively in the specialty chemicals segment. This restructuring was accompanied by a change in the company logo, which was unified across all subsidiaries.

On 6 November 2008, main shareholder SKion GmbH (Germany, owned by Susanne Klatten) issued a public takeover offer of €13 per share for all outstanding shares, an action which drove up the stock price.[7] A company spokesperson stated that the intention was to delist the company from public trading. To achieve this, SKion issued a second takeover offer of €14 per share to the remaining shareholders on 9 November 2009.[8]

On 30 December 2008, the Frankfurt Stock Exchange announced that Altana would be removed from its MDAX index, as the increase in the share held by SKion had pushed the portion of stock held in free float to under ten percent. By June 2010, SKion held 95.04 percent of all shares.

In Germany, the stock was traded mainly on the Frankfurt and Stuttgart Exchanges and the Xetra platform; internationally, it was admitted to trading on the London Stock Exchange and the NASD Group, now FINRA, in the US.

After SKion acquired the entire Altana stock through a squeeze-out, trading in this stock was suspended effective 27 August 2010.

References

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from Grokipedia
ALTANA AG is a German multinational corporation specializing in the development and production of innovative specialty chemicals, with a focus on additives, effect pigments, electrical insulation materials, and coatings and sealants. Headquartered in Wesel, Germany, the company operates through four independent divisions—BYK (additives and instruments for coatings and inks), ECKART (metallic and pearlescent pigments), ELANTAS (electrical insulation and encapsulation materials), and ACTEGA (coatings, adhesives, and sealants)—serving industries such as automotive, electronics, printing, and packaging. As of the end of 2024, ALTANA employed 8,382 people worldwide and reported annual sales of €3.169 billion, positioning it as one of the fastest-growing and most profitable specialty chemical companies globally. The company's origins trace back to 1873, when Dr. Heinrich Byk founded a chemical production firm in that later became part of BYK-Guldenwerke Chemische Fabrik AG in 1917. In , ALTANA AG was established as a spin-off from the diversified Varta AG, initially encompassing pharmaceuticals, , and chemicals before refocusing exclusively on specialty chemicals by 2007. Since then, ALTANA has expanded through strategic acquisitions, including Rockwood Holdings' business in 2013, a majority stake in Swiss-based Von Roll Holding AG in 2023, and the full acquisition of Von Roll in 2024, along with Silberline for advanced effect pigments. These moves have strengthened its portfolio in high-performance materials essential for sustainable technologies, such as electric vehicles, , and eco-friendly coatings. ALTANA emphasizes innovation and , investing heavily in to create environmentally compatible solutions that reduce emissions and enhance product efficiency. In January 2025, the company announced a climate strategy aiming for net zero emissions across its by 2050, with a 90% reduction in by 2040 in areas of direct influence, and voluntary offsetting of CO2 equivalents starting in 2025 for Scopes 1, 2, and selected Scope 3 categories. It had already achieved CO2-free production sites in and by 2022, and it prioritizes principles in its chemical formulations. Represented in approximately 25 countries, with production facilities in 66 locations worldwide, ALTANA serves a diverse global customer base, contributing to advancements in key sectors while maintaining a commitment to high-quality, customer-oriented technologies.

Overview

Founding and corporate structure

Altana AG traces its foundational roots to 1873, when Dr. Heinrich Byk established a chemical laboratory in that later evolved into key components of the company's early operations. The company was formally founded in 1977 as a spin-off from the Group's non-battery divisions, encompassing pharmaceuticals, cosmetics, food, and specialty chemicals, under the initiative of industrialist to streamline and concentrate on these activities. This separation resulted in Altana AG emerging as an independent entity from the broader Varta conglomerate, which retained its battery and plastics operations. Altana AG operates as an (AG), a stock corporation under German law, with its headquarters located in , . Initially established as a publicly traded upon its 1977 formation, it remained listed on the until 2010. During 2006–2010, SKion , controlled by —daughter of —progressively acquired shares through tender offers, culminating in a resolution at the 2010 that transferred all remaining shares to SKion, delisting Altana and transitioning it to private ownership. As of , Altana AG employs approximately 8,400 people worldwide, supporting its organizational structure as the managing for its specialized chemical divisions.

Leadership and key personnel

Martin Babilas has served as Chairman of the Management Board and of Altana AG since January 2016. Born in 1971 in , , he studied and earned an MBA after a banking traineeship. Babilas joined Altana in 1998 as a in , progressing through roles in strategic business development, , and management positions within Altana Chemie AG before ascending to the executive board in 2007. Under his leadership, the company has emphasized in specialty chemicals, particularly in developing sustainable solutions for coatings, adhesives, and electrical insulation materials. Dr. Tammo Boinowitz joined the Management Board in January 2023, overseeing the BYK Additives & Instruments and ECKART Effect Pigments divisions, as well as innovation management, procurement, and environmental, health, and safety functions. Holding a in chemistry from his studies between 1986 and 1995, Boinowitz brings extensive experience in the chemicals sector, having held technical and executive roles at Th. Goldschmidt AG, Degussa AG (later Evonik), and as Chairman of BYK-Chemie GmbH from 2021 to 2023, where he focused on additives and global market expansion. His expertise supports Altana's advancements in material science and sustainable additives. Stefan Genten has been a Member of the Management Board and Group since August 2015, responsible for finance, accounting, controlling, treasury, taxes, legal affairs, , compliance, , and . Born in 1968 in , he studied , , , and , earning a Dipl.-Kaufmann degree. Prior to Altana, Genten served in senior finance and controlling positions at Rheinbraun AG, AG, and Grünenthal GmbH, where he was Group and COO from 2009 to 2014. His financial acumen has guided Altana's strategic investments in growth and operational efficiency. Altana AG operates under a two-tier board structure typical of German corporations, with the three-member Management Board executing strategy and the 12-member providing oversight and advisory support. The is chaired by Prof. Dr. Frank Richter since March 2024, with deputies Ulrich Gajewiak and ; other members include Dr. Sven Abend, Jürgen Bembenek, Dr. Anette Brüne, Antje Gerber, Ruud Joosten, Tanja Kliegel, Klaus Koch, Dr. Jens Schulte, and Stefan Soltmann. Oversight is significantly influenced by SKion , the majority shareholder, through representatives such as deputy chairwoman , who holds the shares via her investment vehicle and ensures alignment with long-term value creation. The executive team has prioritized and as core strategic pillars. Babilas has driven climate protection initiatives, positioning Altana's innovations—such as recyclable coatings and wind energy materials—at the forefront of the industry's green transition, reducing Scope 1 and 2 CO₂ emissions by 70% from 2014 to 2023 despite sales growth. Genten integrates into financial decision-making, including sustainability-linked financing, while advancing digital tools for and data-driven R&D. Boinowitz contributes through innovation in eco-friendly additives, enhancing customer products' environmental performance.

Financial performance

In 2024, Altana AG reported total sales of €3,169 million, marking a 16% increase from €2,742 million in 2023, driven by and acquisitions such as the Silberline Group. The company's revenue is diversified across its four main divisions, with additives and instruments contributing the largest share.
DivisionSales (€ million)Percentage of Total
BYK1,33742%
ELANTAS87828%
ACTEGA51916%
ECKART43414%
This breakdown reflects BYK's position as the leading segment, focused on additives for coatings and inks, while ELANTAS specializes in electrical insulation materials. Altana's profitability has shown steady improvement in recent years, with EBITDA reaching €490 million in 2024, a 27% rise from €385 million in 2023, yielding a margin of 15.5% compared to 14.0% the prior year. This uptick was supported by higher volumes and reduced material costs as a of (43.3% in 2024 versus 46.5% in 2023), though margins remained below the strategic target of 18-20% due to integration expenses from acquisitions and elevated personnel costs. In the first half of 2025, Altana achieved sales of €1,624 million and EBITDA of €290 million, indicating stable development across all divisions despite economic uncertainties. A pivotal financial event occurred in 2006 when Altana sold its pharmaceuticals business, Altana Pharma AG, to Nycomed for approximately €4.5 billion, which significantly bolstered the company's cash reserves and enabled subsequent investments in its specialty chemicals operations. Altana AG was publicly traded on the from 1977 to 2010, during which it underwent a spin-off from Varta AG and expanded through acquisitions. In 2010, following a by SKion , the company was delisted from stock exchanges, transitioning to private ownership and allowing greater flexibility for long-term strategic investments without quarterly public reporting pressures.

Business operations

Corporate divisions

Altana AG operates through four main business divisions: BYK, ECKART, ELANTAS, and ACTEGA, each specializing in niche areas of specialty chemicals and materials. These divisions contribute to the company's global leadership in innovative solutions for coatings, , , and related industries. The BYK division focuses on additives for coatings, inks, and plastics, as well as measuring and testing instruments through subsidiaries like BYK-Gardner, which offers instruments for color and appearance measurement, building on the original Byk-Gulden legacy established in the early . Key offerings include wetting and dispersing additives, defoamers, and surface modifiers that enhance product performance in diverse applications. The ECKART division specializes in effect pigments, particularly for automotive and decorative coatings, utilizing materials like aluminum, , and to achieve visual and functional enhancements. These pigments are also applied in plastics, printing inks, and , supporting aesthetic and protective qualities in end products. The ELANTAS division provides electrical insulation materials for , transformers, and other electrical equipment, including wire enamels, resins, and protective tapes. Its solutions ensure reliability and efficiency in the and power industries worldwide. The ACTEGA division develops polymers and coatings for and seals, alongside adhesives and inks for and labeling. It addresses needs in flexible, metal, and paper-based packaging through specialized business lines that prioritize functionality and compliance. Under Altana's holding structure, the divisions function semi-autonomously, with independent management teams handling market, location, and product decisions, while sharing centralized resources for group-wide services and cross-divisional R&D initiatives. This model fosters specialized innovation within each unit while aligning with overarching corporate strategies.

Products and technologies

Altana's product portfolio spans specialty chemicals tailored for applications in coatings, , , and inks, with innovations emphasizing performance enhancement and . The BYK division specializes in additives that optimize formulation processes in paints and coatings, including modifiers that improve processability, storage stability, and the ability to achieve greater film thicknesses. These modifiers, such as associative thickeners like RHEOBYK, provide thixotropic flow and anti-sagging properties essential for high-quality application. Complementing these, BYK's and dispersing additives ensure fine particle distribution, stabilize pigments and fillers, enhance on substrates, and prevent in formulations. The ECKART division focuses on effect pigments that deliver aesthetic and functional enhancements, particularly metallic pigments for creating color effects in paints, coatings, plastics, and printing inks. These include silver-dollar and cornflake-shaped aluminum pigments, as well as vacuum-metallized pigments, offering variations from light metallic sheens to deep chrome blacks and three-dimensional depth impressions. ECKART's pearlescent pigments further enable iridescent and interference effects, supporting applications in automotive finishes, decorative , and lightweight . In the electronics sector, the ELANTAS division provides insulation materials critical for electrical insulation and reliability, including wire enamels that form protective coatings on or aluminum magnet wires through baking processes. These enamels, available in , polyesterimide, and bases, offer properties such as corona resistance, , and oil resistance to meet demanding requirements in , transformers, and e-mobility components. ELANTAS also produces insulation varnishes for impregnating coils and components, ensuring mechanical stability and thermal endurance in high-voltage applications. The ACTEGA division develops coatings and adhesives for packaging integrity, with a strong emphasis on food-safe solutions compliant with direct contact regulations. FoodSafe coatings, a water-based portfolio, provide low-migration barriers for dry and fat-containing foodstuffs, applied as gloss or matte finishes on and board to maintain product safety and print quality. ACTEGA's adhesives, including laminating types for flexible and labels, are BPA-free and free of epoxysilanes, enabling secure bonds in , beverage, and pharmaceutical applications without compromising recyclability. Altana advances its technologies through innovations like nanoparticle-based additives from BYK, such as NANOBYK dispersions containing silica or alumina nanoparticles, which enhance scratch and abrasion resistance in coatings while improving UV protection. In bio-based polymers, BYK's CERAFLOUR additives, derived 100% from renewable sources like corn starch or rapeseed, deliver matting and slip effects in coatings and inks, supporting sustainable formulation without synthetic waxes. Additionally, Altana invests in bio-based flame retardant additives through partnerships, such as with Nordtreat, to develop phosphorus-free solutions from wood by-products for polymers and textiles. These advancements are protected by Altana's extensive patent portfolio, which safeguards proprietary formulations across its divisions.

Global presence and sustainability

Altana AG maintains a significant international footprint, operating 66 production sites and 69 service and laboratories across 28 countries, with major facilities in , the , , and . The company serves customers in more than 80 countries, supported by a network of more than 3,500 suppliers globally. In 2024, approximately 37% of its sales were generated in , with the remaining 63% derived from regions outside , including strong contributions from and the . The company's sustainability strategy emphasizes environmental responsibility, targeting net zero emissions across Scopes 1, 2, and 3 by 2050 and a 90% reduction in Scope 1 and 2 emissions by 2040 relative to 2021 levels. Altana has committed to carbon neutrality in production and energy procurement by 2025, having already achieved a 26% reduction in Scope 1 and 2 emissions since 2021, with 119,702 tons of CO₂ equivalents reported in 2024; as of 2025, the company has begun offsetting remaining emissions in Scopes 1, 2, and selected Scope 3 categories to achieve this goal. To address volatile organic compound (VOC) emissions, Altana focuses on developing water-based coatings and implementing advanced exhaust gas purification technologies at its sites. In pursuit of a circular economy, the company promotes chemical recycling and the use of recycled or bio-based raw materials, exemplified by the ECKART division's incorporation of recycled aluminum in effect pigments. On the social front, Altana advances diversity through targeted programs, achieving 25.7% female representation in its workforce and 22.6% in positions in 2024, with goals to align diversity with overall employee demographics. are upheld via adherence to the UN Global Compact and regular assessments using EcoVadis, covering 71% of suppliers in 2024; the company joined the Together for Sustainability (TfS) initiative that year to enhance transparency and standards, and achieved Platinum status in the EcoVadis rating in 2025. Altana ensures compliance with REACH regulations through its EH&S system, which manages chemical registrations and risk assessments across its global operations. Key metrics include 100% renewable electricity usage globally since 2020, with ongoing expansion to achieve 50% from own production and local contracts by 2025 via power purchase agreements and on-site solar installations.

History

Origins and early development

The origins of Altana AG trace back to 1873, when Dr. Heinrich Byk established a chemical factory, Dr. Heinrich Byk Chemische Fabrik, in the district of , initially specializing in the production of pharmaceuticals such as sleeping pills and related diagnostic chemicals. This laboratory laid the foundation for what would become a key player in chemical manufacturing, focusing on high-quality compounds for medical and industrial applications. In 1917, the company merged with Leipziger Farbwerke Paul Gulden & Co., a producer of paints and tanning agents, to form BYK-Guldenwerke Chemische Fabrik AG, which broadened its scope into expanded pharmaceutical production and chemical intermediates. Further consolidation occurred in 1931 with the acquisition of Ernst Lomberg-Photochemische Produkte, enhancing capabilities in photochemical and specialty chemicals. By 1941, industrialist Dr. Günther Quandt, through his ownership of AFA (later Varta AG), acquired the majority shares in BYK-Gulden Lomberg, integrating it into a larger conglomerate while maintaining its focus on innovative chemical solutions. The post-World War II era marked a period of recovery and diversification for BYK-Gulden under the Group umbrella, as the relocated its headquarters to Constance in 1943 amid severe wartime destruction—90% of its facilities were obliterated by 1945—and was renamed BYK-Gulden. In the and , it shifted toward broader chemical applications, particularly developing initial additives and dispersants, building on the seminal 1935 introduction of the Anti-Terra agent, which revolutionized even distribution in paints and s. This era saw key expansions, including the 1962 establishment of facilities in and the 1964 founding of BYK-Chemie to advance additive technologies internationally, setting the stage for further growth within the family's industrial holdings.

Expansion and divestitures

Following its formation as a spin-off from AG, ALTANA AG was listed on the on , 1977, marking the beginning of its public trading era and enabling further corporate expansion. In the subsequent decades, the company pursued growth through targeted acquisitions in its specialty chemicals segments, particularly in pigments and additives. A notable example was the 2005 acquisition of Eckart & Co. KG, a leading German manufacturer of effect pigments, which strengthened ALTANA's position in metallic and pearlescent pigments for coatings, printing inks, and plastics. Parallel to its chemicals expansion, ALTANA significantly grew its pharmaceuticals division during the and via strategic acquisitions, including those that bolstered its respiratory and portfolios, such as the 1994 launch of under the existing Byk Gulden Lomberg Chemische Fabrik GmbH subsidiary. This period of pharmaceutical buildup culminated in the 2006 divestiture of the entire ALTANA Pharma AG business to Nycomed for approximately €4.5 billion, allowing ALTANA to refocus on specialty chemicals and distribute substantial proceeds to shareholders. The sale proceeds facilitated further investments, including key mergers such as the 2005 integration of Wiedeking Electrical Insulation with Beck Electrical Insulation to form the core of the ELANTAS division, enhancing capabilities in electrical insulation materials. In 2011, ALTANA consolidated several acquired assets from the post-pharma divestiture period—including Kelstar (2005), Rad-Cure (2006), and Water Ink Technologies (2009)—into the newly formed ACTEGA division, specializing in coatings, sealants, and inks for and . This restructuring supported ongoing growth in specialty chemicals. Concurrently, starting in 2006 after the pharma sale, major shareholder SKion —controlled by —initiated a gradual , increasing its stake through multiple tender offers, including in 2008 and 2009, to reach over 95% ownership by early 2010. This led to ALTANA's delisting from the in 2010, transitioning the company to private ownership after 33 years as a public entity.

Modern era and innovations

Following the completion of the squeeze-out process in 2010, which delisted ALTANA AG from public trading, the company sharpened its strategic emphasis on its core specialty chemicals operations, divesting non-core assets to streamline its portfolio around high-value additives, coatings, and functional materials. This shift enabled greater agility in innovation-driven growth, with ALTANA maintaining a strong focus on sectors such as , and . By 2016, under the leadership of CEO Martin Babilas—who succeeded Dr. Matthias L. Wolfgruber—the company intensified efforts in digitalization and , integrating advanced technologies to enhance process efficiency and sustainability across its divisions. ALTANA has consistently allocated approximately 7% of its annual sales to research and development, surpassing industry averages and supporting a pipeline of targeted innovations. Notable advancements include the 2018 launch by BYK of the world's first carbon fiber coupling agent, which improves performance in lightweight applications for electric vehicles and . In 2021, the company introduced Signite technology through ACTEGA, reducing label waste in packaging by over 50% via innovations, and CubicInk® materials by ECKART for sustainable . These developments underscore ALTANA's commitment to resource-efficient solutions, with R&D expenditures reaching €213 million in 2024 alone. Amid global disruptions, ALTANA adapted its supply chains during the by prioritizing production stability and customer supply security, even as raw material shortages and price volatility intensified; this resilience contributed to growth of 22% in 2021. By 2022, the company achieved its first CO2-free production sites in (ACTEGA) and (ECKART), achieving CO2 neutrality for its production sites and energy procurement by 2025 through transitions, emission reductions, and offsets, while setting a new net zero emissions target across the entire by 2050. In parallel, ALTANA expanded in the region, recording 20% operational sales growth in and 13% in in 2024, driven by new facilities and acquisitions. In 2023, ELANTAS acquired a majority stake in Von Roll Holding AG, completing the full acquisition in 2024 to bolster high-voltage insulation materials, alongside ECKART's acquisition of Silberline in January 2024 for advanced effect pigments. Under Babilas's guidance, these initiatives have emphasized AI-supported digital tools, such as systems implemented in 2024, to optimize R&D and operational foresight.

References

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