Akzo Nobel Completes US Paint Acquisition

Akzo Nobel's contract with NOF Corporation, Japan, to acquire the worldwide marine and aerospace coatings business of its subsidiaries, U.S. Paint and NOF Europe, has been finalized today.

U.S. Paint will retain its general industrial coatings business and its production site in St. Louis, Missouri. Under the terms of the deal, Akzo Nobel will acquire the marine business' sales and technical support unit in Antwerp, Belgium. Production of marine and aerospace products will move to Akzo Nobel facilities in Europe and the United States in due course.

WAUKEGAN, ILLINOIS USA, 24 May 2002 - This acquisition brings with it well known and respected products including Awlgrip and Alumigrip polyurethane topcoats.

"US Paint has been the benchmark in general aviation topcoats. It is our intention to continue this effort, adding to it the full service and quality resources of ANAC," commented Kevin Fleetwood, ANAC general manager.

Backed by a global distribution network and quality certified manufacturing facilites, Akzo Nobel Aerospace Coatings delivers a complete line of coating systems when and where customers need them. The worldwide manufacturing effort is supported with complete research, development, marketing and technical services.

Parent company, Akzo Nobel, based in the Netherlands, serves customers throughout the world with healthcare products, coatings and chemicals. Consolidated sales for 2001 totaled EUR 14 billion. The Company currently employs over 66,000 people in 80 countries. Financial results for the second quarter will be published on July 24, 2002.

For more information please contact:
TC Specialties, Inc. (Distributor)
Phone) 714-524-4490
Email) info@tcspecialties.net