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Altech Chemicals appoints experienced German executive to supervisory board

Werner Klatten has held significant positions in the German media industry.

Altech Chemicals Ltd - Altech Chemicals appoints German executive Werner Klatten to the board
Altech is aiming to become one of the world’s leading suppliers of high purity alumina

Altech Chemicals Ltd (ASX:ATC) (FRA:A3Y) has appointed experienced German executive Werner Klatten to the supervisory board of European-based Altech Advanced Materials AG (FRA:AMA1)

A lawyer by profession, Klatten has held several significant positions in the German media industry including chairman of the management board and chief executive officer of Sat.1 GmbH, a German free to air television channel.

Most recently he was CEO of Deutsche Sporthilfe where he moved to the supervisory board in March 2010 as chairman.

Klatten is also chairman of the advisory board of teNeues Verlag GmbH Co.KG, chairman of the real estate company Puma Bradenburg Ltd and chairman of the advisory board of Tamara Comolli Fine Jewellery GmbH.

“Pleased to be part of European strategy”

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 automakers and their suppliers have in the pipeline.

“HPA is an often understated but key part of the transition from traditional internal combustion engines to electric vehicles.

“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.”

Altech holds 29% of AAM

Altech is a 29% shareholder of Frankfurt Stock Exchange-listed Altech Advanced Materials AG (AAM) and Altech managing director Iggy Tan and alternate director Uwe Ahrens sit on the management board of AAM.

In August 2019, AAM purchased a right from Altech to acquire up to a 49% interest in Altech’s high purity alumina (HPA) project for US$100 million.

Quick facts: Altech Chemicals Ltd

Price: 0.04 AUD

Market: ASX
Market Cap: $34.82 m

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