Akzo Nobel to Invest NLG 70 Million in a Pharmaceutical Ingredient Plant.ARNHEM, Netherlands--(BUSINESS WIRE)--July 2, 1998--Akzo Nobel N.V. will invest NLG NLG The ISO 4217 currency code for the Dutch Guilder. 70 million (USD USD In currencies, this is the abbreviation for the U.S. Dollar. 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. 35 million) in a new plant for its business unit Diosynth in Oss, the Netherlands. The new plant will have a surface of about 6,000 square meters Noun 1. square meter - a centare is 1/100th of an are centare, square metre area unit, square measure - a system of units used to measure areas and is expected to become operational in the year 2000. Diosynth, a business unit of 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. , is specialized in the production of complex active ingredients used in the global pharmaceutical industry, including Akzo Nobel's business unit Organon or·ga·non or or·ga·num n. pl. or·ga·nons or or·ga·nums or or·ga·na 1. An organ. 2. A set of principles for use in scientific investigation. organon pl. organa [Gr.] organ. . The company will build new, state-of-the-art facilities as many medicines can only be manufactured in highly specialized installations. Under strictly controlled conditions, in so called clean rooms, new biotechnological products, peptides and saccharides will go through final steps, including purification. "This is a very important investment for us," said Johan Evers, General Manager of Diosynth. "Not only does it enable us to meet the increasing demand for new products but it also allows us to anticipate technological developments". "We also hope that this investment will stimulate the Dutch government to improve the climate for innovation," said Evers. "New medicines are in principle not allowed to be introduced in the Netherlands. It would be motivating, also for our employees, if the Netherlands would open up again". Diosynth employs about 2,000 people, of which about 1,400 work in the Netherlands. Diosynth is a business unit of Akzo Nobel. Akzo Nobel, headquartered in Arnhem, The Netherlands, is a market driven and technology based company, serving customers throughout the world with healthcare products, coatings, chemicals, and fibers. The company employs 70,000 people and has activities in 60 countries. In 1997, consolidated sales aggregated $12 billion (24.1 billion NLG). In North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. the company employs more than 9,000 employees and has annual sales of approximately $3 billion. The company's ADRs are traded on NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on under the AKZOY symbol. (USD 12 billion).
CONTACT: Diosynth
Johan Evers, tel. +31 412 662223
Note - for the editor/not for publication
URL: http://www.akzonobel.com
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