Akzo Nobel Coatings strengthens its position in South America
Akzo Nobel Coatings strengthens its position in South America Arnhem, the Netherlands, October 2, 2001 - Akzo Nobel Coatings has acquired Química Borden Ecuatoriana S.A., the leading producer of adhesives and resins for the wood working industry in Ecuador, from Borden Chemical Holding Inc., United States. "From a strategic point of view, this acquisition is the next logical step following the successful integration of Interquím S.A. in Colombia, the industrial resins and adhesives business we bought in 1998. We have now created an excellent platform for further expanding our business with formaldehyde-based products in South America, said Rudy van der Meer, member of the Akzo Nobel Board of Management responsible for Coatings. "The acquisition will also provide us with a broader market for our dispersion-based adhesives products for the wood working industry", he added. "Based on our experience from other parts of the world, we plan to further develop this part of the business." "By integrating Bordens activities with our activities in Interquím we will be able to offer our clients their combined technical know-how and our concept of Bonding Operation Efficiency", said Lars-Erik Thomsgård, General Manager of Akzo Nobel's business unit Industrial Products. Note for the editor Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2000 totaled EUR 14 billion (USD 13 billion, GBP 8.5 billion). The Company currently employs 67,500 people in more than 75 countries. Financial results for the third quarter of 2001 will be published on October 24, 2001. Based in Columbus, Ohio, Borden Chemical, Inc., is a leading global producer of resins and adhesives, formaldehyde, melamine and UV-curable coatings used in a wide range of industrial applications. Internet: http://www.akzonobel.com http://www.cascoprod.com http://www.bordenchem.com For more information please contact: Akzo Nobel Industrial Products, Lennart Olsson, +46 708 307 307 ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2001/10/04/20011004BIT00190/bit0001.doc http://www.waymaker.net/bitonline/2001/10/04/20011004BIT00190/bit0001.pdf