Akzo Nobel Resins and Ascona Resins combine activities heading for global

Akzo Nobel Resins and Ascona Resins combine activities heading for global leadership in printing ink resins. Arnhem, the Netherlands, November 10, 1998. - Akzo Nobel Resins and Ascona Resins (Argentina) have signed a letter of intent leading to a global strategic alliance, concerning the production, product development and sales of rosin modified resins and rosin. It is the intention to eventually fully integrate the resin and rosin activities of Ascona Resins in the Akzo Nobel Resins organization. As from the signing of the letter of intent Akzo Nobel Resins acquires sole and exclusive access to gum rosin produced by Ascona Resins. As of January 1, 1999 the marketing & sales activities of both companies as well as those of Amsurco (the former USA marketing division of the Argentine group), will be managed by Akzo Nobel Resins. Rosin is a renewable environmentally friendly raw material base derived from trees, and which is used in the production of e.g. printing ink resins. For Akzo Nobel gum rosin supply is of strategic importance. The alliance is a major step for Akzo Nobel Resins to strengthen its global competitive position in printing ink resins and to secure access to a reliable source of gum rosin. It allows the company to improve its efficiency through critical mass and the use of efficient industrial capacity. Ascona Resins' high performance products will be a valuable addition to Akzo Nobel Resins' product line. The alliance considerably extends the total available production capacity worldwide for printing ink resins of Akzo Nobel Resins. The product assortment for the alliance's printing ink resins will include: phenolic modified resins, maleics, hydrocarbon hybrids, alkyds, vehicles, acrylics, polyesters, resinates, specialty rosins and additives. Akzo Nobel Resins, with total sales of approximately NLG 600 million in 1997, is a global manufacturer of high-performance resins for coatings and printing inks. Production facilities for its printing ink resins are in: the USA (Georgia and Illinois), Europe (the Netherlands and Spain) and in Asia in two joint venture companies (Malaysia and Indonesia). The Bergen op Zoom site also includes a highly sophisticated R&D laboratory dedicated to printing ink resins. The activities are concentrated on the offset printing ink market with niche positions in the liquid ink and digital printing markets. Ascona Resins has production facilities in Argentina, a strong position in the USA and Latin America and an established presence both in Europe and in the Far East. In 1997 total sales amounted to NLG 70 million. Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings, chemicals and fibers. The company currently employs some 87,500 people in more than 60 countries. Consolidated sales for 1997 totaled NLG 24.1 billion (USD 12 billion / GBP 7.5 billion). - - - ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1998/11/10/19981110BIT00120/bit0001.pdf http://www.bit.se/bitonline/1998/11/10/19981110BIT00120/bit0002.doc