Akzo Nobel Coatings Strengthens Its Position in South America.Business Editors ARNHEM, the Netherlands--(BUSINESS WIRE)--Oct. 4, 2001 Akzo Nobel Akzo Nobel is a multinational company, active in the fields of healthcare products, coatings and chemicals. Headquartered in Amsterdam, the Netherlands, the company has activities in more than 80 countries, and employs approximately 62,000 people. Coatings has acquired Quimica Borden Ecuatoriana S.A., the leading producer of adhesives and resins for the wood working industry in Ecuador, from Borden Chemical Holding Inc., United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . "From a strategic point of view, this acquisition is the next logical step following the successful integration of Interquim S.A. in Colombia, the industrial resins and adhesives business we bought in 1998. We have now created an excellent platform for further expanding our business with formaldehyde-based products in South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , said Rudy van der Meer Van der Meer is a Dutch surname that simply means the phrase 'from the lake' in English. Many years ago, descendants would have lived from a lake in the Netherlands which is how the name first originated. , member of the Akzo Nobel Board of Management responsible for Coatings. "The acquisition will also provide us with a broader market for our dispersion-based adhesives products for the wood working industry," he added. "Based on our experience from other parts of the world, we plan to further develop this part of the business." "By integrating Bordens activities with our activities in Interquim we will be able to offer our clients their combined technical know-how and our concept of Bonding Operation Efficiency," said Lars-Erik Thomsgard, General Manager of Akzo Nobel's business unit Industrial Products. Note for the editor Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2000 totaled EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 14 billion ($13 billion, GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 8.5 billion). The Company currently employs 67,500 people in more than 75 countries. Financial results for the third quarter of 2001 will be published on October 24, 2001. Based in Columbus, Ohio, Borden Chemical, Inc., is a leading global producer of resins and adhesives, formaldehyde, melamine melamine (mĕl`əmēn'), common name for 2,4,6-triamino-1,3,5-triazine. Melamine is a trimer (see polymer) of cyanamide, H2NC≡N, and is synthesized from calcium carbide. and UV-curable coatings used in a wide range of industrial applications. Internet: http://www.akzonobel.com http://www.cascoprod.com http://www.bordenchem.com Note to Editors: This press release is also accessible online at www.Waymaker.net. |
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