July 2 (Bloomberg) -- Altana AG, the 140-year-old maker of chemical additives owned by billionaire Susanne Klatten, reshuffled its supervisory board, with the former chief executive of Cognis, Antonio Trius, joining as a board member following its takeover by BASF SE.
Klaus-Jurgen Schmieder, a former Air Liquide SA executive, will take over as chairman, and ex Chemetall president, Monika Engel-Bader, joins as a supervisory board member, Altana said in a release today. Retirements opened up the three posts.
“We have again attracted outstanding personalities, both on a professional and personal level,” Chief Executive Officer Matthias L. Wolfgruber said in the statement. “In its new composition, too, the supervisory board will constructively accompany and support Altana’s growth- and value-oriented course.”
Altana has made a string of bolt-on acquisitions this year to grow in fast-growing markets, including China, where it recently purchased factories to expand enamels and electrical insulation divisions. Earnings before interest, taxes, depreciation and amortization declined 2 percent to 308 million euros ($389 million) last year, held back by spiraling raw-material costs that offset growth in sealants and coatings.
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