Barloworld makes cash offer for Wattyl.

Barloworld Limited has announced its intention to make a recommended cash offer to purchase Wattyl Limited. The offer values Wattyl at A$321 (Australian) million.

The directors of Wattyl have evaluated Barloworld's proposed offer and have unanimously agreed to recommend that Wattyl shareholders accept the offer in the absence of a superior proposal. All Wattyl directors intend to accept the Barloworld offer for their personal shareholdings in the absence of a superior proposal.

"The acquisition of Wattyl is part of our strategy of building strong and competitive businesses in selected regions of the world," said Tony Phillips, CEO of Barloworld. "The combination of Wattyl with Barloworld's existing Australian coatings operation will create a vibrant and sustainable business with the ability to provide the consumer with a full and competitive spectrum of coatings products."

Phillips continued, "The merged operation will be able to leverage off its greater scale to invest more heavily in research and development and brand marketing, as well as increasing manufacturing and distribution efficiencies."

DUPONT AUTOMOTIVE SYSTEMS ANNOUNCES CONSOLIDATION OF COATINGS LABORATORIES

DuPont Automotive Systems, has announced it will consolidate its two coatings laboratories located in Southeastern Michigan into its Mt. Clemens, MI automotive coatings manufacturing plant and research facility. As a result, by the end of September 2006, DuPont will close its automotive coatings laboratory in Troy with a reduction of approximately 200 positions in technical, sales-marketing and administrative roles.

No other DuPont Automotive businesses or facilities located in Troy are affected. The DuPont Troy site will continue operations at three buildings and technical development facilities in a variety of automotive businesses including automotive coatings, elastomers, engineering plastics, fluoropolymers, air-conditioning refrigerants and advance specialty fibers.

"The timing of this decision was driven by automotive industry conditions and the continued, unprecedented escalation of raw materials costs," said Stephen L. Cox, vice president-Americas, DuPont Automotive Systems. "Through the efficiencies gained in the consolidation of these laboratories at the DuPont Mt. Clemens manufacturing plant, using lean operating practices, DuPont will maintain its high level of customer technical service for auto manufacturers in North America."