The specialty chemicals GroupALTANA and Landa
Corporation 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
& Instruments, ECKART Effect Pigments, and ACTEGA Coatings & Sealants.
"We are extremely excited to be partnering with an
industry visionary like Benny Landa. We speak the same language in terms of
innovation," says Dr. Matthias L. Wolfgruber, CEO, ALTANA AG. "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."
"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," said Benny Landa, Chairman and CEO of Landa Corporation.
"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."
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