US Salt Group Purchases DCV's Propionates and Acetates Business.

Business Editors

JACKSONVILLE, Fla.--(BUSINESS WIRE)--Jan. 14, 2000

The US Salt Group is pleased to announce that it acquired DCV's propionates and acetates business on Jan. 5, 2000. In a separate agreement, US Salt also announced that it has entered into a long-term tolling relationship with DCV to continue manufacturing calcium propionate, sodium propionate and calcium acetate at its plant in Verona, Md. Calcium and sodium propionates are the most common food preservatives used in bakery products. Calcium acetate is used in various industrial and pharmaceutical applications.

The newly acquired DCV business will be merged into US Salt's affiliate, Verdugt b.v., the world's largest producer of organic salts based on propionic and acetic acids. Verdugt will manage the business through its sister company, US Salt LLC, which it has appointed its exclusive agent and representative in North America. In the next 90 days, Verdugt and US Salt plan to transfer all customer service and administrative functions for the new business to its own facilities, but exisiting propionate and acetate customers should continue to place orders through their present DCV channels.

Mark Demetree, who serves as Chairman and CEO for both US Salt and Verdugt, said: "The acquisition of DCV's propionates and acetates business represents another step in our efforts to build a worldwide industrial salts business serving the food, agricultural and pharmaceutical industries. The acquisition further rounds out the portfolio of products that we can provide our food customers in North America."

Based in Tiel, The Netherlands, Verdugt manufactures a wide range of propionates, acetates, formates, benzoates and lactates. Verdugt primarily serves the food, agricultural and pharmaceutical industries. US Salt operates a sodium chloride refinery located in Watkins Glen, N.Y. and is a leading manufacturer of salt products for the food grade, water conditioning, agricultural and pharmaceutical markets. Further queries should be addressed to US Salt's General Manager, Gerry Murphy, who can be reached at 904/306-2005.