Akzo Nobel acquires German metalorganics start-up company
Akzo Nobel acquires German metalorganics start-up company Arnhem, the Netherlands, October 29, 2002 - Akzo Nobel's Polymer Chemicals High Purity Metalorganics (HPMO) unit has strengthened its position in the compound semiconductor industry with the acquisition of Mochem GmbH. The HPMO unit is active in the field of metalorganics for semiconductors in opto-electronics. Mochem is a technology-driven start-up company in the same field with complementary products and know-how. "This small acquisition is in line with Akzo Nobel's strategy to focus on chosen segments of the chemical industry based upon superior technology and grow them through selected acquisitions," said Dag Strömqvist, Member of Akzo Nobel's Board of Management responsible for Chemicals. "This move is consistent with our strategy to expand and develop products and services for the compound semiconductor industry," added Bob Viehweger, Vice President Research and Business Development within Akzo Nobel's business unit Polymer Chemicals. "High Purity Metalorganics is one of our global businesses with high growth potential. This deal puts together an excellent combination of types of products, manufacturing and engineering know-how with sophisticated semiconductor know-how, global sales and logistics reach. It is another step in our long-term plan to support the development of compound semiconductors to the fullest potential." Operations will continue at both Houston, Texas, United States, and Marburg, Germany. The entire Mochem team will be part of the combined company. - - - Note for the editor Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2001 totaled EUR 14 billion. The Company currently employs over 67,000 people in more than 80 countries. Financial results for the full year 2002 will be published on February 11, 2003. Internet: www.akzonobel.com www.anhpmo.com Not for publication - for more information please contact: Akzo Nobel N.V. John Jennings, Manager Corporate Communications, tel. +31 26 366 4343 Akzo Nobel Polymer Chemicals Heleen van de Lustgraaf, Manager Communications, tel. +1 312 906 7097 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/10/29/20021029BIT00100/wkr0001.doc http://www.waymaker.net/bitonline/2002/10/29/20021029BIT00100/wkr0002.pdf