Altana buys packaging coatings firm, sells industrial unit to BASF.(Altana Chemie Inc. acquires Kelstar International and sells Rhenania Coatings unit to BASF)(Brief Article)

Altana Chemie (Wesel, Germany) says it has acquired Kelstar International (Cinnaminson, PA), a producer of water-based and ultraviolet curable overprint coatings for the paper and board packaging sector. The purchase price was not disclosed. Kelstar reported sales of $48.5 million last year. All employees are expected to join Altana, and all production assets are included in the deal, Altana says.

Altana says it plans to focus solely on specialty coatings for the packaging industry. As part of that plan, the company says it has sold the industrial coatings division of its Rhenania Coatings unit to BASF. Financial terms of the deal were not disclosed. BASF will acquire …