TEL AVIV, June 25 German specialty chemicals
group Altana and Landa Corp of Israel have concluded
an equity financing agreement under which Altana will invest 100
million euros ($135 million) for a minority stake in Landa
"Both companies see the agreement not only as a financial
investment, but also as a starting point for a long-term
strategic partnership to bring digital printing solutions to the
commercial, packaging and publishing markets," the companies
said in a statement on Wednesday.
Other units of the Landa group, including Landa Labs and
Landa Ventures, are not included in the transaction.
The proceeds will be used for completing the development of
nanography, Landa's water-based digital printing process.
"I am confident that we are investing in a game-changing
technology that can enable the printing industry to thrive in
the 21st century and help our customers position themselves well
for the future," said Matthias Wolfgruber, chief executive of
Benny Landa, chairman and CEO of Landa Corp, said Altana
brings relevant industry and market experience as well as
worldwide manufacturing expertise, which will be of great value
as the company expands globally.
(Reporting by Tova Cohen)