Akzo Nobel and Coin to establish joint venture for their DCP and CHP businesses

Akzo Nobel and Coin to establish joint venture for their DCP and CHP businesses Arnhem, the Netherlands, July 8, 1999. - Akzo Nobel's business unit Polymer Chemicals and Coin Chemical Industrial Co Ltd, of Taipei, Taiwan, intend to establish a worldwide joint venture for the production, marketing, and sale of dicumyl peroxides (DCP) and cumene hydroperoxide (CHP). The Akzo Nobel Group in Japan will hold 60%, and Coin the remaining 40% of the shares of the joint venture, which will have three manufacturing plants, located in Taiwan, the People's Republic of China, and Belgium. With a holding company based in Singapore, the joint venture will be operational shortly, under the name of Coin Akzo Nobel Peroxides. This merger of strengths mirrors Coin's long-term ambitions in the global DCP markets. For Akzo Nobel Chemicals, it further consolidates its market leadership position worldwide in all fields of organic peroxides. DCP is widely used in the crosslinking of various polyolefine polymers and copolymers in the field of wire and cables, as well as in the polymerization of styrene and the curing of ethylene copolymers. CHP is also used as a polymerization initiator in styrene copolymers. Coin has a long service record, with a leading market position globally in DCP. Its Taiwanese and Chinese plants, whose total annual capacity is 6,000 metric tons, enjoy a high reputation for the ISO 9002 certified production of high quality DCP and CHP. Coin is also a market leader in Asia in the field of stabilizers, lubricants, and antioxidants netting over USD 50 million in sales annually, with manufacturing capacities of over 30,000 metric tons. Akzo Nobel's Polymer Chemicals unit holds worldwide leading positions in the production, handling and supply of organic peroxides, metal alkyls, Ziegler- Natta and other polymerization catalysts. These products are used in the production of thermoplastic polymers and thermoset plastics. Production is carried out at more than 15 plants/sites worldwide. In 1998, sales for the business unit amounted to EUR 521.8 million (USD 577.9 million). - - - Note for the editor Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings, chemicals and fibers. The fibers business, now known as Acordis, will be demerged. The company currently employs approximately 86,000 people in more than 70 countries. As of 1999 the euro is Akzo Nobel's external reporting currency. Consolidated sales for 1998 totaled EUR 12.5 billion (USD 13.8 billion). Financial results for the second quarter of 1999 will be announced on July 28. Internet: http://www.akzonobel.com For more information please contact: Akzo Nobel N.V. John Jennings, Corporate Media Relations, tel. +31 26 366 4343 ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/07/08/19990708BIT00060/bit0001.doc http://www.bit.se/bitonline/1999/07/08/19990708BIT00060/bit0002.pdf