Nanophase Technologies Announces Exclusive Partnership With and $10 Million Investment by Altana Chemie AG
25 Março 2004 - 9:00AM
PR Newswire (US)
Nanophase Technologies Announces Exclusive Partnership With and $10
Million Investment by Altana Chemie AG ROMEOVILLE, Ill., March 25
/PRNewswire-FirstCall/ -- Nanophase Technologies Corporation , a
technology leader in nanomaterials and nanoengineered products,
announced that Nanophase and Altana Chemie AG, the specialty
chemicals business of ALTANA AG (NYSE: AAA; FSE: ALT), have formed
an exclusive global partnership (the "Partnership") to supply
certain nanomaterials for use in paints, coatings, and plastics.
The Partnership will collaborate in developing innovative materials
for specialty market areas such as general industrial coatings,
architectural coatings, coil coatings, automotive OEM and refinish
coatings, printing inks, duroplasticsand thermoplastics, consumer
goods packaging, and electrical insulation applications. (Logo:
http://www.newscom.com/cgi-bin/prnh/20030422/NANXLOGO ) Designed to
enhance growth prospects and competitive advantages for Nanophase,
Altana Chemie, and their customers in these markets, the
Partnership anticipates jointly developing advanced nanomaterial
applications for these markets. The companies plan to start product
co-development immediately and expect initial market product
introductions during late 2004. In view of the exclusivity and the
Partnership's objectives, Altana has purchased 1,256,281 shares of
Nanophase common stock at a purchase price of $7.96 per share, or
an aggregate of $10 million in cash. These shares will be
restricted and not registered for a period of two years. After this
purchase, Nanophase has 17,371,814 shares of common stock
outstanding, approximately 7% of which is now owned by Altana.
"This is a highly significant partnership for Nanophase," stated
Dan Bilicki, Nanophase's vice president of sales and marketing. "We
believe that there are immediate and long-term market opportunities
that this Partnership can successfully address. Nanophase looks
forward to working closely with Altana and expects that this
relationship will drive profitable revenue growth for both
companies." "We are delighted to become a development and market
partner with a company of Altana's caliber," commented Joseph
Cross, Nanophase's president and CEO. "Based on market studies, the
demand for nanocomposites in coatings is expected to be a
significant growth market. Nanophase's technologies, coupled with
Altana's expertise and market access, are a solid combination in
this area. Nanophase is excited to partner with Altana in
anticipated multiple market product developments." "With this
strategic investment ALTANA Chemie is taking a significant step
into the field of nanotechnology. Nanocomposites will be a key
driver in the future for innovative products in coatings, plastics
or electrical insulation applications and will help to safeguard
the leading competitive positions of our business units," said Dr.
Matthias L. Wolfgruber, Member of the Management Board of ALTANA
and CEO of ALTANA Chemie. First Analysis Securities Corp. (Chicago,
IL) acted as Nanophase's exclusive financial advisor. Nanophase
Technologies (NANX), http://www.nanophase.com/ , provides
innovative nanoengineered solutions for multiple industrial product
applications. Using a platform of patented and proprietary
integrated nanomaterial technologies, the Company creates products
with unique performance attributes from two ISO 9001:2000
facilities. Nanophase delivers commercial quantity and quality
nanoparticles, coated nanoparticles, and nanoparticle dispersions
in a variety of media. The Company has 23 United States patents and
patent applications and 32 foreign patents and patent applications.
Full details on Nanophase may be found in the Company's public
filings or on its website. ALTANA Chemie develops and produces
high-quality, innovative products in the specialty chemicals
sector. ALTANA Chemie AG with its headquarters in Wesel, Germany,
is the holding company for the three business units Additives &
Instruments, Coatings & Sealants, and Electrical Insulation.
ALTANA Chemie provides innovative and environmentally compatible
solutions, along with the appropriate specialty products, for
coatings manufacturers, paint and plastics processors, and the
electronics industry. Its range of products includes additives,
specialty coatings, sealing and compounds, impregnating agents, and
testing and measuring instruments. In its target markets the
company is market leader in terms of quality, innovation and
service. In 2003 ALTANA Chemie with more than 2,600 employees
achieved sales of euro 755m, making ALTANA Chemie one of the most
innovative, fast-developing and profitable chemical corporations in
the world. First Analysis offers investment banking and strategic
advisory services to clients in the sectors researched by our
investment professionals, including specialty chemicals and
advanced materials, life science tools, filtration, plastics
processing, outsourced business services, and information
technology products and services. Founded in1981, First Analysis
has participated in investment banking transactions valued at more
than $5 billion. This press release contains words such as
"expects," "anticipates," "plans," "forecasts" and similar
expressions that are intended to identify forward-looking
statements within the meaning of the Safe Harbor Provisions of the
Private Securities Litigation Reform Act of 1995. Such statements
in this announcement are made based on the Company's current
beliefs, known events and circumstances at the time of publication,
and as such, are subject in the future to unforeseen risks and
uncertainties. It is possible that the Company's future performance
may differ materially from current expectations expressed in these
forward-looking statements due to a variety of important factors
such as: a customer's decision to defer, cancel or otherwise modify
a purchase order or supply agreement; demand for, and acceptance
of, the Company's nanocrystalline materials; changes in our
development, supply and distribution relationships; increasing
price and product/service competition by foreign and domestic
competitors, including new entrants; technological developments and
changes; the ability to continue to introduce competitive new
products and services on a timely, cost effective basis; the
Company's mix of products/services; increases in raw material costs
which cannot be recovered in product pricing; domestic and foreign
governmental and public policy changes including environmental
regulations; disruption of commercial activities and threats
associated with terrorism and efforts to combat it; protection and
validity of patent and other intellectual property rights; the
cyclical nature of the Company's business; the outcome of pending
and future litigation and governmental proceedings; and other risks
described in the Company's filings with the Securities and Exchange
Commission. In addition, the Company's forward-looking statements
could be affected by general industry and market conditions and
growth rates. The Company undertakes no obligation to update or
revise these forward-looking statements to reflect new events,
uncertainties or other contingencies.
http://www.newscom.com/cgi-bin/prnh/20030422/NANXLOGO
http://photoarchive.ap.org/ DATASOURCE: Nanophase Technologies
Corporation CONTACT: Joseph Cross, President, CEO, +1-630-771-6705,
Jess Jankowski, VP, and Controller, +1-630-771-6702, or Nancy
Baldwin, Investor Relations, +1-630-771-6707, all of Nanophase
Technologies Corporation Web site: http://www.nanophase.com/
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