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Bracing for a tough second-half

Despite not meeting targets in the first half of 2019, specialty chemicals group, ALTANA is bracing to meet challenging market conditions head on for the second half of the year.

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ALTANA is bracing itself as it predicts challenging market conditions to persist

The group provides solutions for coating manufacturers, paint and plastics processors, the printing and packaging industries, the cosmetics sector and the electrical and electronics industry.

ACTEGA, a division of ALTANA, develops and produces specialty coatings, sealants, printing inks, and adhesives for packaging and the graphic arts industry.

Analysing its half-year results, the firm blames “continued sluggish demand” in key industrial sectors such as the automotive industry, and general economic slowdown for its decrease in sales.

The start of 2019 saw ALTANA experience a 12% decline in its earnings before interest, taxes, depreciation, and amortisation (EBITDA) which came in at $22m (£20.4m).

Despite this, the company still forecasts sales to stay roughly as they were the previous year for the year as a whole.

...we can hold our ground even in a difficult environment and continue to invest heavily in our future in order to remain on course for sustained success

Commenting on the results, Martin Babilal, chief executive officer of ATLANA says: “ALTANA is a company with substantial financial and innovative strength. Therefore, we can hold our ground even in a difficult environment and continue to invest heavily in our future in order to remain on course for sustained success.”

Despite maintaining a positive attitude, the firm is expecting the challenging conditions to persist, with sales in China decreasing by 4% to $1,154 (£1,070) in the first six months of this year due to the discontinuation of trading in white pigments.

With this in mind, the recent acquisition of Paul N. Gardner Company which was completed in July is hoped to boost the strength of the group in America for the second half of 2019.

It was not all decline for the group as its ACTEGA division continued its growth with a 4% increase in sales to $184m (£170m). The firm credits continuing good demand for coating and packaging solutions from consumer-oriented industries for this result.

If you have any news, please email carys@linkpublishing.co.uk or join in with the conversation on Twitter and LinkedIn.

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