ALTANA TO ACQUIRE U.S. COATINGS FIRM KELSTAR
German drugs and chemicals group Altana (ALTG.DE: Quote, Profile, Research) (AAA.N: Quote, Profile, Research) has agreed to acquire Kelstar International, a U.S. producer of coatings for the paper and packaging industry, it said on Thursday. Atlana said it planned to close the transaction in the fourth quarter, but gave no information about the price. Kelstar, based in Cinnaminson near Philadelphia, had sales of $48.5 million in 2004.