ALTANA Chemie Announces Acquisition of Guardian Resin Corporation
|ST. LOUIS ( May 24, 2002) - The P. D. George Company of St. Louis, Missouri, a member of ALTANA Chemie, has signed a contract to acquire the business of Guardian Resin Corporation/Gahanna as of June 1, 2002. P.D. George will buy all of the operating assets of the organization and will take over full employment of key staff working for the business. The organization will be integrated into the Varnish & Compounds Business Unit of ALTANA Chemie. The production will be transferred to St. Louis.
Guardian Resin Corporation develops, produces and sells epoxy resins and formulation specifically for the electrical insulating varnish markets of hermetic motors and HID ballast transformers. Guardian is one of the leading brands for impregnants and compounds for the electrical insulation industry based on epoxy water emulsions.
"This acquisition is further evidence of ALTANA's strong commitment to the electrical insulating varnish industry. It reinforces and complements the market position and product offering for the electrical insulation systems already offered by P.D. George and ALTANA," said Dr. Christoph Schluenken, Global Business Unit Manager Varnish & Compounds of ALTANA Chemie.
The P.D. George Company, based in St. Louis, Missouri and founded in 1919, is a premier global supplier of specialty polymers for application in the electrical and electronic industries. They are a member of ALTANA Chemie, based in Wesel, Germany. ALTANA has continually demonstrated their commitment to the global electrical industry through worldwide growth. ALTANA`s varnish and compound companies are strategically located throughout the world to provide the best coverage for their customers.