Dynea Oy to acquire Sydsvenska Kemi’s resins operations

March 1, 2002 Dynea Oy, the parent company of Dynea International Oy, is acquiring Perstorp’s resins operations from Sydsvenska Kemi. Through this acquisition, Dynea Group, a leading global supplier of industrial adhesive systems, will strengthen its position as a world-leader in industrial resins for non-wood applications. The acquired business will be owned by Dynea Oy. Dynea’s current industrial resins business is owned by Dynea International Oy. The sale and purchase agreements relating to the shares and operations of Perstorp’s resins business were signed on February 28, and the closing of the purchase is targeted to take place on March 15, 2002. The acquired resins business consists of formaldehyde-based industrial resins production aimed primarily to the automotive and engineering industries, and combines a strong technology base with experience and market leadership in many applications. Manufacturing units are located in Aycliffe, England; Brebières, France; Erkner, Germany; and São Paolo, Brazil. The business employs some 340 persons and has revenues of SEK 950 million. Sydsvenska Kemi AB is the parent company of an international specialty chemicals group, including the now integrated chemical operations of Perstorp and Neste Oxo. The Group had annual sales of about SEK 7 billion (pro forma) during its first year in operation, with approximately 2,600 employees. Like Dynea, Sydsvenska Kemi is controlled by the private equity firm Industri Kapital´s funds. The transfer of Perstorp’s resins operations to Dynea Oy was preceded by operational cooperation between the two companies in the resin sector. This cooperation was initiated during the Autumn 2001.

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