Wesel, Germany, November 6, 2018 – The specialty chemicals group ALTANA invests in the Israeli industrial digital printing company Velox Ltd., expanding its technology and investment portfolio in this area. The parties have agreed not to disclose the investment amount.
Velox has developed a breakthrough digital technology for direct-to-shape packaging decoration (e.g. tubes and cans) on a wide variety of materials at mass production speed and excellent quality, applicable for one-offs to large series production. The enterprise already delivered the first solution to a global plastics tube manufacturer, and secured multiple high-value orders from strategic customers in Europe and USA.
The novel digital printing technology of Velox intersects with numerous activities of the ALTANA Group in the areas of printing and packaging.
“Our investment in Velox is an expression of our strategy of working with young, highly innovative technology enterprises,” says ALTANA member of the management board, Dr. Christoph Schlünken. “At the same time, this commitment will significantly expand our network in the digital printing sector and strengthen our innovative capacity in this important growth market.”
“With ALTANA, we’ve gained a strong, innovative partner for our business model who will help us to develop our digital technology further and bring it to market successfully,” declares Velox CEO and Co-Founder, Marian Cofler.
ALTANA’s investment in Velox is part of the Corporate Venturing activities of the globally active specialty chemicals company. These activities aim at investing in high-growth technology driven companies with materials-based transformative business models as well as ultimately contributing to ALTANA’s sustainable profitable growth.
ALTANA is a global leader in true specialty chemicals. The Group offers innovative, environmentally compatible solutions for coating manufacturers, paint and plastics processors, the printing and packaging industries, the cosmetics sector 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. ALTANA's four divisions, BYK, ECKART, ELANTAS, and ACTEGA, all occupy a leading position in their target markets with respect to quality, product solution expertise, innovation and service.
Headquartered in Wesel, Germany, the ALTANA Group has 52 production facilities and 60 service and research laboratories worldwide. Throughout the Group about 6,300 people work to ensure the worldwide success of ALTANA. In 2017, ALTANA achieved sales of more than €2.2 billion. About 6 percent of sales are invested in research and development every year. Its high earning power and high growth rate make ALTANA one of the most innovative, fastest growing, and profitable chemical companies in the world.
Press Releases | November 6, 2018