Artek to Acquire Aterians Shares in Galata Chemicals, a Producer of PVC Additives

Artek Surfin and Aterian Investment Partners, currently joint owners of Galata Chemicals, have reached a definitive agreement whereby Artek Surfin will acquire Aterians shares in Galata Chemicals. The transaction is expected to close in March. The company will continue to operate as it does today with the current organization in place.

"Over the past four years, Aterian and Artek have successfully partnered with the Galata Chemicals organization to build a leader in PVC Additives with a global footprint and an expanded portfolio of innovative products," said Steven McKeown, President and COO of Galata Chemicals. "We are thankful for Aterians significant contribution to the turnaround and growth of Galata Chemicals and look forward to continue to partner with Artek as we enter the next phase of our growth strategy."

Michael Fieldstone, partner at Aterian, added "It has been a pleasure to partner with Artek and the dedicated and talented Galata management team in the Companys successful reinvigoration and new product development efforts. We are thrilled by the outcome and look forward to watching Artek and the Company in its continued success."

"We are extremely excited about the growth opportunities Galatas business has and are committed to growing this business, including the addition of manufacturing assets in Asia," said Vishal Goenka. "To get to where Galata is today would not have been possible without a great partner in Aterian and the enthusiasm of TEAM GALATA."

About Galata Chemicals

Galata Chemicals is one of the leading global producers of plastics additives including mixed metal heat stabilizers, organotin heat stabilizers, epoxidized soybean oil, polymer modifiers, tin catalysts and bio-based plasticizers.

About Artek

Artek Surfin Chemicals and its group company Sterling Auxiliaries are one of the largest specialty chemical companies in India, focusing on surfactants, alkyl alkanol amines, textile chemicals, metal finishing and other specialty chemical sectors. Artek has substantial experience developing and operating chemical plants and distributing and marketing specialty chemical products internationally.