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ROHM AND HAAS AND ELF ATOCHEM CONSIDER FORMING A GLOBAL VENTURE IN PERFORMANCE PLASTICS

 ROHM AND HAAS AND ELF ATOCHEM CONSIDER FORMING
 A GLOBAL VENTURE IN PERFORMANCE PLASTICS
 PHILADELPHIA, Jan. 7 /PRNewswire/ -- Elf Atochem S.A. and Rohm and Haas Company (NYSE: ROH) announced today that the two companies are evaluating the formation of a global joint venture for their acrylic sheet and acrylic molding powder businesses.
 Both companies will seek the necessary government approvals and will consult with appropriate authorities and other parties. Implementation is expected as soon as these are completed.
 Elf Atochem manufactures its acrylic sheet and molding powder products at six plants located in Western Europe and markets them under the trademark Altuglas. Rohm and Haas manufactures these products at five plants in the United States, Canada and Mexico, and sells them under the Plexiglas(A) trademark.
 It is anticipated that this joint venture in Performance Plastics will consist of a North American company majority-owned by Rohm and Haas, a European company majority-owned by Elf Atochem, and a third jointly owned company for the rest of the world. Elf Atochem is a significant factor in the European Performance Plastics business, while Rohm and Haas is a significant factor in the United States. Global sales of the new firm will be approximately $500 million.
 J. Lawrence Wilson, chairman and chief executive officer of Rohm and Haas Company, commented: "This joint venture should be able to compete in markets around the world, something neither Elf Atochem nor we have been able to do on our own." He added, "For a company to stay competitive in the 1990s, it must have a significant presence in at least two, if not all three, major markets: North America, Europe and Pacific, as is the case for other polymethyl methacrylate producers."
 Benefits of this global joint venture include the reduction of manufacturing costs resulting from the exchange of manufacturing technologies, the ability to support significant R&D efforts required to develop and market advanced new products based on methyl methacrylate, and the ability to expand the range of products and geographic markets.
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 (A) These products are sold under the Oroglas trademark outside North and South America.
 /delval/
 -0- 1/7/92
 /CONTACT: Laura Hadden of Rohm and Haas, 215-592-3054/
 (ROH) CO: Rohm and Haas Company; Elf Atochem S.A. ST: Pennsylvania IN: CHM SU: JVN


MP -- PH004 -- 7185 01/07/92 08:59 EST
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Publication:PR Newswire
Date:Jan 7, 1992
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