Elantas Electrical Insulation, a division of the specialty chemicals group Altana, has signed a purchase agreement with Changzhou Lantian Ruiqi Chemical to acquire the Chinese company's business with Tris-2-hydroxyethyl Isocyanurate (THEIC).
Within the framework of the transaction, which is expected to be completed in the third quarter of 2012, Elantas will take over the company's production facilities in Changzhou, its technology and employees.
Both parties have agreed that no details of the purchase price would be disclosed.
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