Perth, Australia, Nov 12, 2019 - (ABN Newswire) - Altech Chemicals Limited (Altech/the Company) (ASX:ATC.AX - News) (HAM:A3Y.F - News) is pleased to announce the appointment of experienced German executive Mr. Werner Klatten to the supervisory board of Altech Advanced Materials AG (AAM) (HAM:AMA1).
- Mr Werner Klatten appointed to the supervisory board of AAM AG
- Highly experienced German industry executive
- Formerly CEO of SAT.1 GmbH, SpiegelNet AG and EMTV AG
Mr. Klatten, a lawyer by profession, has held a number of significant positions in the German media industry including chairman of the management board and chief executive officer (CEO) of Sat.1 GmbH, and CEO of EMTV AG (now Constantin Medien AG). Most recently, Mr Klatten held the position as CEO of Deutsche Sporthilfe, where he moved to the supervisory board in March 2010 as chairman. Mr Klatten is also chairman of the advisory board of teNeues Verlag GmbH Co.KG, chairman of the real estate company Puma Brandenburg Ltd. and chairman of the advisory board of Tamara Comolli Fine Jewellery GmbH.
Mr Klatten said that he is pleased to be invited to join the supervisory board of AAM. Commenting on Altech's high purity alumina (HPA) project and its European strategy, Mr. Klatten said, "Europe would seem to be a natural fit for Altech's HPA production technology given the impending unprecedented scale of capital investment that European auto-makers and their suppliers have in the pipeline to underpin the transition from traditional internal combustion engines to electric vehicles - HPA is an often understated but key part of this transition. Minimising supply chain risks for electric vehicle and associated battery component production has been identified as important, incentives to assist with the regional integration of the supply chain and production processes are being prioritised. I am very pleased to be part of Altech's European HPA strategy - and the opportunity to be involved at the very start of this exciting journey is most satisfying," he said.
About Altech Chemicals Ltd:
HPA is a high-value, high margin and highly demanded product as it is the critical ingredient required for the production of synthetic sapphire. Synthetic sapphire is used in the manufacture of substrates for LED lights, semiconductor wafers used in the electronics industry, and scratch-resistant sapphire glass used for wristwatch faces, optical windows and smartphone components. There is no substitute for HPA in the manufacture of synthetic sapphire.
Global HPA demand is approximately 25,315tpa (2016) and demand is growing at a compound annual growth rate (CAGR) of 16.7% (2016-2024), primarily driven by the growth in worldwide adoption of LEDs. As an energy efficient, longer lasting and lower operating cost form of lighting, LED lighting is replacing the traditional incandescent bulbs.
Altech Chemicals Limited
Altech Chemicals Limited
Investor Relations (Europe)
Soar Financial Partners
Altech Chemicals Ltd
Copyright (C) 2019 ABN Newswire. All rights reserved.