ALTANA recently announced it is acquiring Switzerland-based Schmid Rhyner AG, thereby strategically expanding its ACTEGA division. Schmid Rhyner, which specializes in print finishing solutions, reportedly generated sales of roughly €50 million (approximately $55.6 million) in 2018, with around 80 employees.
“In acquiring Schmid Rhyner, we are continuing to systematically pursue the ALTANA strategy of generating value-creating growth through targeted acquisitions,” said Martin Babilas, CEO of ALTANA AG.
Founded in 1880 and headquartered in Adliswil, Switzerland, with a subsidiary in New Jersey, Schmid Rhyner sells its products in over 100 countries worldwide. In addition to protecting packaging with matt and gloss coatings, Schmid Rhyner products can reportedly achieve a variety of optical effects. The company also develops solutions for digital printing.
“With the acquisition of Schmid Rhyner AG, we strengthen our technology competence in this area,” said Thorsten Kröller, president of ALTANA’s ACTEGA division. “It enables us to open up new markets and application areas, especially in the fields of flexible packaging and digital printing.”