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Solvay & CPC Barium Strontium GmbH & Co. KG Joint Venture Launched.

HOUSTON -- Solvay & CPC Barium Strontium GmbH & Co. KG has received regulatory clearances, and a definitive agreement launching the company has been finalized. The new company, a joint venture between member companies of the Solvay Group and Chemical Products Corporation (CPC), will provide worldwide management of the partners' barium carbonate and strontium carbonate technical grades, sodium sulfide, hydrosulfide and strontium nitrate businesses.

"The barium and strontium business is facing the challenge of a rapidly changing technological and geographical end-use marketplace," said Ray Johnson, President and Chief Executive Officer of the joint venture. "We are fortunate to have these two leading companies join forces to face this challenge, thereby enhancing our future competitiveness throughout the world."

The new company, which is headquartered in Hanover, Germany, is held 75% by Solvay and 25% by CPC. The main production sites for the joint venture are in Germany (Bad Hoenningen), Mexico (Monterrey & Reynosa), India (Sri Kalahasti) and Korea (Onsan).

Separate from the joint venture, CPC will continue to produce barium carbonate in the USA.

The Solvay Group is an international chemical and pharmaceutical group with headquarters in Brussels whose companies employ more than 30,000 people in 50 countries. Including Fournier Pharma, its 2004 sales amounted to EUR 8.5 billion generated by its three activity sectors: Chemicals, Plastics and Pharmaceuticals. Solvay is listed on the Euronext 100 index of top European companies. Details are available at www.solvay.com.

Chemical Products Corporation (CPC) is a privately held company founded in 1933 and is headquartered in Cartersville, GA. The company produces barium and strontium salts and sulfur products from its basic position on raw material barite and celestite. In addition to the barium and strontium business, CPC produces and markets colloidal silicas under Precision Colloids LLC, specialty pulp and paper chemicals, and agricultural herbicides under the subsidiary Chemical Products Technologies (CPT). Details are available at www.chemicalproductscorp.com.
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Publication:Business Wire
Geographic Code:1USA
Date:Nov 18, 2005
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