Altech Chemicals Ltd (ASX:ATC) has a new substantial shareholder, SMS Investments SA.
The new major shareholder holds an 8.04% stake through its 38.9 million shares.
The investment is related to the recently outlined equity support from German engineering firm SMS group GmbH.
READ: Altech Chemicals attracts US$11M funding for Malaysian alumina project
Notably, today, Altech’s application for project finance export credit cover was decided positively by the relevant German government committee.