Akzo Nobel Polymer Chemicals Buys Daejin's Amides Business

Akzo Nobel Polymer Chemicals Buys Daejin's Amides Business Arnhem, the Netherlands, October 13, 1998. - Akzo Nobel NV's business unit Polymer Chemicals has purchased the amides business of Daejin Fine Chemicals Co. Ltd., based in South Korea, including its production facility in Kyungju. From today, the business will operate under the name of Akzo Nobel Amides Co. Ltd. Amides are polymer additives used as slipagents/antiblock agents in the polymer industry mainly for the production of polyethylene and polypropylene foils and films. These are widely used in the packaging industry, a growing product sector. Akzo Nobel has existing amide production facilities in Italy and in the United States. The addition of the Daejin business enables Akzo Nobel to further globalize and rationalize this business. This acquisition is in line with Akzo Nobel's strategy to further develop its presence in Asia and to strive toward leading positions in the business sectors in which it operates. This acquisition positions Akzo Nobel as one of the top three amides producers in the world. The business unit Polymer Chemicals holds worldwide leading positions in 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 1997, sales for the business unit amounted to NLG 1.1. billion. Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings, chemicals, and fibers. At the end of last year, the company employed 70.000 people in more than 60 countries. Consolidated sales for 1997 totaled NLG 24.1 billion (USD 13.3 billion / GBP 7.7 billion). - - - For further information, please contact: John Jennings, Akzo Nobel NV, tel. +31 26 366 4343 (Proct13.doc)