New acquisition by Cray Valley in Southeast Asia

05-03-2002: With effect from March 1, 2001, CRAY VALLEY, Resins Division of ATOFINA, is taking over Dynomer, the Pasir Gudang-based Malaysian company which is a subsidiary of the Finnish group Nordkemi. Dynomer has sales of € 20 million (60 million ringitts) for the year ending on December 31, 2000.

Dynomer is active in the Coatings and Unsaturated Polyester resins sector in all the countries of Southeast Asia, China and the Middle East.

Cray Valley has been established at New Mumbai, India (Coatings and Polyester resins) for many years and began in 1999, development in Chon Ju, South Korea (Unsaturated Polyesters, Vinylester, Gel Coats and Compounds). This latest acquisition will strengthen Cray Valley position in Asia.