Dynea and Metafrax join forces in Russia. New leading adhesive resins supplier in Russia

Z.A.O. MetaDynea manufactures and markets superior adhesion solutions. The new company, jointly owned by two leading companies, Dynea Chemicals Oy (Finland) and JSC Metafrax (Russia), aims to ensure the availability of high quality adhesives for the manufacture of wood based panels, other wood working industries and different industrial applications. MetaDynea is building up a new resins plant in Gubakha, in the Perm region. The plant will have capacity to produce some 200 ktons of resins per year, and is expected to start production in the 3rd quarter in 2004. It will employ 25 persons. The Gubakha plant will produce urea and melamine resins, based on Dynea technology, for the rapidly growing woodworking industries of Russia and its neighbouring countries. MetaDynea also has plans to build another urea and melamine resins production unit in Western Russia by the end of 2006. This plant has a planned capacity of over 120 ktons/year of urea and melamine resins. MetaDynea's future plans also include production of phenolic resins for a broad range of industrial applications, including insulation and impregnation. "MetaDynea supports both Dynea's and Metafrax's long-term strategies. Thanks to our combined resources, we have an excellent platform from which to continuously develop our services to our customers in the Russian and neighbouring markets. MetaDynea supports our goal to be the leading supplier for the global wood related and other industrial adhesives markets," says Mr Joni Lukkaroinen, Chairman of the Board of ZAO MetaDynea. The company's head office is located in Moscow. Dynea's all business activities in Russia have been incorporated into Z.A.O. MetaDynea, which will also act as the Russian distributor for Dynea's other products.