Altair Taps Banker but Maintains It Doesn?t Want To Sell

Altair Nanotechnologies Inc. may have hired a banker to look at strategic options, but this isn’t an auction, said the company’s president. “We’re not interested in selling the company. A lot of people got that impression,” said William Long, the president of the firm, which was formerly called Altair International Inc. Altair hired C.K. Cooper & Co. to advise. Rather, the $30 million market cap company wants to find buyers for some of its non-core assets, and team up its core budding nanoparticles business with a larger firm. One competitor is Duesseldorf, Germany-based Degussa AG, said Long. But Altair is more likely to strike a deal with an old-line or specialty chemical company about a possible joint venture or other partnership, he said. He did not want to be specific, but added he is in talks with several such companies. Degussa could not be reached.