November 20, 2001
Bakelite AG, a wholly owned subsidiary of the Rütgers Group, has on November 15, 2001, signed a
Sale and Transfer Agreement to buy the phenolic resins business of Neste Chemicals GmbH, a wholly
owned subsidiary of Dynea Oy, at Moers/Meerbeck. To become effective, the agreement is subject to
approval by the competition authorities.
The acquisition consists of sales in phenolic resins of approximately ? 5 million. The resins are applied in
the panelboard and abrasive industry. The take-over is considered a step forward in Bakelite?s efforts
to achieve a leading position in Europe.
The divestment of Dynea?s Meerbeck business was an undertaking agreed with the European
Commission by Industri Kapital in connection of Sydsvenska Kemi?s acquisition of Perstorp AB.
Sydsvenska Kemi is owned by the Industri Kapital 2000 Fund.
After the divestment, Dynea continues to have production for polymer dispersion and paraffin
emulsions at the Moers/Meerbeck site. This production is operated under a long-term tolling agreement
with Sasol Germany GmbH (previously Condea Chemie GmbH).
Bakelite is a subsidiary of the RÜTGERS Group in Essen, Germany. The Group recorded sales of
approximately ? 3,1 billion and employs 13,900. Bakelite is one of Europe?s leading phenolic resin
producers, with sales in 2000 totalling ? 421 million. Bakelite has workforce of over 1,600 people at
plants located in Germany, Italy, Spain, Finland and the USA.
Dynea is one of the world?s leading providers of industrial adhesive systems. Adhesive resins are used
in a variety of applications by the panel board industry, laminated beam and structural wood
manufacturers, the mineral and glass fibre industry, the paper impregnating industry, and many others.
Dynea also produces paper overlays and oil field chemicals.
In 2000, Dynea had combined revenues of approximately EUR 1.0 billion. With over 50 production
units in 25 countries in Europe, the Americas and Asia Pacific, Dynea has some 3,000 employees. Dynea
Oy is controlled by the Industri Kapital 1997 Fund and the Industri Kapital 2000 Fund.