German specialty chemicals group, Altana AG, has announced the grand opening of its BYK USA expanded facility in Wallingford, Conn. The company states that, with this plant, BYK more than doubles its production capacity in the U.S. and increases worldwide supply chain security for its additives.
The new plant sees an investment from Altana of $50 million, the largest investment it has made outside of Germany.
“Today marks a very important moment in Altana's growth strategy,” said Matthias L. Wolfgruber, Wesel-based Altana's CEO. “With this expanded facility we will accelerate our growth in North America.”
The Altana Group has four divisions: BYK Additives & Instruments, Eckart Effect Pigments, Elantas Electrical Insulation, and Actega Coatings & Sealants.
Altana currently operates eight subsidiaries, 18 production facilities and 19 laboratories in the U.S. The company generated sales of around $395.2 million, or 16 percent of its entire global business in the U.S. in 2013.
Altana Group employs more than 5,700 people worldwide and in 2013 had global sales of more than 1.8 billion euros ($2.4 billion).