Altana Acquires Tech Portfolio, Research Team from NuLabel Technologies
Specialty chemicals group Altana has acquired a technology portfolio and research and development platform from NuLabel Technologies Inc. as well as an interdisciplinary team of researchers. Terms of the deal were not disclosed.
The portfolio includes technologies for additive manufacturing of sustainable decoration solutions as well as new technology for resealable packaging. The acquired technologies will be integrated into Altana’s Actega North America division.
“We are very pleased to have found a new owner in Altana, who is in a position to integrate our innovative pipeline into its core business and to bring it to market readiness,” says Benjamin Lux, president of NuLabel Technologies. “We know that our innovation team and our technology solutions are in the best of hands with Actega, a company that has long-standing experience as a leader of new and sustainable technologies for the packaging industry.”
Lux will join the Actega North America team, while Harold Schofield will continue leading NuLabel as interim CEO.
“NuLabel’s innovation team, intellectual property and projects are an ideal addition to our growing portfolio,” says Mark Westwell, president and CEO of Actega North America. “They have the potential to provide new growth opportunities to our customers in the packaging industry and, at the same time, to make an important contribution to sustainability.”