Altech Chemicals Ltd (ASX:ATC) AAM AG Appoints Experienced Auto Executive to Board

Perth, Australia, Mar 13, 2020 - (ABN Newswire) - Altech Chemicals Limited (ASX:ATC) (HAM:A3Y) and Altech Advanced Materials AG (AAM) (HAM:AMA1) are pleased to announce that following shareholder approval, Mr Wilko Stark has been appointed to the supervisory board of Altech Advanced Materials AG.

Mr Stark is a highly experienced automotive executive and has held a number of significant roles in the German automotive industry. Most recently Mr Stark was a member of the divisional board of Mercedes-Benz Cars, Germany, prior to which he was chief executive officer of Daimler's CASE (Connectivity, Autonomous Driving, Shared mobility, Electromobility) activities, and group leader of battery electric vehicles. Mr Stark has also held the postion of vice-president corporate strategy and product planning for Mercedes-Benz Cars, where he was responsible for all vehicle and engine projects.

Before joining Daimler AG, Mr Stark was five years with Volkswagen Group as vice-president product planning and vice-president products for SEAT S.A. (wholly owned by Volkswagen), in Barcelona, Spain. Mr Stark commenced his career with the Boston Consulting Group, where he spent eight years.

Mr Iggy Tan, managing director of Altech and AAM welcomed Mr Stack to the supervisory board of AAM. "We are honoured to have Mr Stark join the team. His recent experience with Daimler's electric vehicle strategy is an ideal fit for AAM and Altech's strategy of positioning the companies to take advantage of the fast growing lithium-ion battery markets in Europe" he said.

For more information about Mr Stark, please visit:
https://abnnewswire.net/lnk/GT90AFA0

About Altech Chemicals Ltd:

Altech Chemicals Limited (ASX:ATC) (FRA:A3Y) is aiming to become one of the world's leading suppliers of 99.99% (4N) high purity alumina (HPA) (Al2O3).

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.

Contact:

Corporate
Iggy Tan
Managing Director
Altech Chemicals Limited
Tel: [phone]
Email: [e-mail]

Shane Volk
Company Secretary
Altech Chemicals Limited
Tel: [phone]
Email: [e-mail]

Investor Relations (Europe)
Kai Hoffmann
Soar Financial Partners
Tel: [phone]
Email: [e-mail]

Copyright (C) 2020 ABN Newswire. All rights reserved., source Press Releases English