GE Plastics to Acquire LNP Engineering Plastics; Combined Businesses Will Offer Enhanced Global Capability for Compounded Materials.Business Editors PITTSFIELD, Mass.--(BUSINESS WIRE)--Dec. 20, 2001 GE Plastics, a unit of General Electric Company (NYSE NYSE See: New York Stock Exchange :GE) with headquarters here, announced today that it has agreed with Kawasaki Steel Corporation of Japan to acquire Kawasaki's LNP (Local Number Portability) The capability of keeping the same local telephone number when switching carriers. See NP and WLNP. Engineering Plastics business. The sale is expected to be completed in the first quarter of 2002. Terms of the agreement were not disclosed. GE Plastics intends to acquire the stock of Kawasaki Chemical Holding Company, which is the parent company for the corporations making up the LNP Engineering Plastics business. "We are looking forward to having LNP as part of the GE Plastics family," said Yoshiaki Fujimori, president and chief executive officer of GE Plastics. "LNP has earned an outstanding reputation for supplying value-added, compounded plastic materials for a variety of applications, and we're confident that our combined companies can bring greater value and service to customers for these high-value products." "This acquisition promises great things for LNP, and for our people," said Bob Schulz Robert L. Schulz, a political activist living in Queensbury, New York, is the founder of the We the People Foundation for Constitutional Education, a non-profit education and research organization with the declared mission "to protect and defend individual Rights as guaranteed by , president and chief executive officer of LNP's global business. "GE Plastics is one of the world's best known plastics suppliers, understands what we do, and values our unique market presence. We're excited about joining their team." The LNP business will be combined with the complementary business units already operated by GE Plastics to form a global compounding business designed to provide superior customer service and delivery of compounded materials. The resulting business will have 13 manufacturing locations throughout the world including: Selkirk, N.Y.; Thorndale, Penn.; Columbus, Ind., Katy, Texas Katy is a city located in the U.S. state of Texas within the Houston–Sugar Land–Baytown metropolitan area. The city is located partially in the counties of Fort Bend, Waller, and Harris. As of the 2000 U.S. Census, Katy's population was 11,775. (recycle materials); and Santa Ana, Calif., in the U.S.; Cobourg, Ontario, Canada; San Luis Potosi San Lu·is Po·to·sí A city of central Mexico northeast of León. It was founded in the late 1500s and is a mining, transportation, and industrial center. Population: 659,000. Noun 1. , Mexico; Sao Carlos, Brazil; Raamsdonksveer, The Netherlands; Pontirolo, Italy; Fosses, France; Thornaby, United Kingdom; and Seremban, Malaysia. Headquarters will be at Exton, Penn. The acquisition is subject to government approval in the United States and in a number of other jurisdictions around the world. LNP, which has its global headquarters in Exton, produces cost-effective, high-performance thermoplastic A polymer material that turns to liquid when heated and becomes solid when cooled. There are more than 40 types of thermoplastics, including acrylic, polypropylene, polycarbonate and polyethylene. compounds, and helps customers bring value to their products by refining the effects of base resins through electrical and thermal activity, lubricity lu·bric·i·ty n. The quality or condition of being lubricious. [Late Latin l  bricit , structural strength, dimensional stability dimensional stability,n See stability, dimensional. , and color accuracy, among other attributes. Visit LNP online at: www.lnp.com GE Plastics is a global manufacturer, marketer and distributor of engineering thermoplastics. The company distributes plastic resins through GE Polymerland, and plastics shapes, including sheet, film, rod and tube, through GE Polymershapes. GE Plastics is also a world leader in selling plastics and plastics shapes online. Visit us online at www.geplastics.com, www.gepolymershapes.com , and www.gepolymerland.com |
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