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AKZO AND DEXTER FORM JOINT VENTURE IN AEROSPACE COATINGS

 WINDSOR LOCKS, Conn., July 1 /PRNewswire/ -- Akzo N.V. (NASDAQ: AKZOY), the worldwide operating chemical company, based in The Netherlands and The Dexter Corporation (NYSE: DEX), a worldwide American specialty materials manufacturer based in Windsor Locks, Conn., announced today they have entered into a joint venture to supply aerospace coating products in Europe and the rest of the world outside the Americas.
 The joint venture will be operated as a partnership, with Akzo owning a 60 percent equity interest and Dexter owning a 40 percent equity interest, and will be called Akzo Dexter Aerospace Finishes. The joint venture will be based in Sassenheim, The Netherlands, and will operate sales organizations in the United Kingdom, France, Germany and Italy and will have a network of agents and distributors throughout the territory.
 The parties further announced that they have completed the transfer of Dexter's U.S.-based coil coatings business to Akzo and the transfer of Akzo's U.S.-based aerospace coatings business to Dexter. These transactions further confirm Dexter's commitment to the aerospace market as a specialty supplier of high-performance coatings and adhesives and reinforce Akzo's commitment to the U.S. coil coatings market.
 Akzo is a worldwide group of companies with establishments in more than 50 countries producing chemicals, coatings, fibers and health care products. 1992 sales exceeded US $9 billion.
 The Dexter Corporation is a Fortune 500 company producing specialty materials to customers in five strategic markets: aerospace, automotive, electronics, food packaging and medical. Founded in 1767, Dexter is the oldest company listed on the New York Stock Exchange. Consolidated net sales and earnings for 1992 were US $951.4 million and US $38.2 million respectively.
 -0- 7/1/93
 /CONTACT: Bruce Beatt for the Dexter Corporation, 203-292-7601/
 (DEX AKZO)


CO: The Dexter Corporation; Akzo N.V. ST: Connecticut IN: ARO SU: JVN

LR -- NY031 -- 7610 07/01/93 10:06 EDT
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Publication:PR Newswire
Date:Jul 1, 1993
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