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6 JULY 2007 FOCUS ON POWDER COATINGS chemicals and coatings units in Jun 2007. Akzo Nobel is aiming for sales in China to hit the $1 bn mark by 2010. China is considered the largest market for powder coatings with growth levels at double digits. Akzo Nobel now has more than 1000 employees in five powder coatings sites in the country. Its other four powder plants are in Bao An, Ningbo, Suzhou and Langfang, all in China. European Paint and Resin News, May 2007, 45 (5), 12 Bayer MaterialScience lowers the heat for powder coatings German Bayer MaterialScience has developed Crelat XP 2571, which allows powder coatings to cure at temperatures of 140°C. Curing and baking also occur at the same time at 120°C. Baking for polyurethane powder coating usually takes 15 minutes at 180°C. Using the catalyst system will enable powder coatings to be utilized on heat sensitive materials such as plastics and wood. European Paint and Resin News, May 2007, 45 (5), 14 Jotun 2006: Jotun Paints: sustaining rapid growth For its fiscal 2006 Jotun Paints, part of Norwegian company Jotun A/S, has reported sales of NKR 2491 M (NKR 2122 M for its fiscal 2005), of which: protective coatings accounted for 21%, decorative paints 69%, marine coatings 10%. Headcount is 2080. The company has production facilities in Egypt, Indonesia, Malaysia, Oman, Saudi Arabia, Thailand, United Arab Emirates, Vietnam, and Yemen. There is discussion of the business and of the results. Jotun Annual Report 2006, 15 Feb 2007, 8-9 (Jotun A/S, PO Box 2021, N-3248 Sandefjord, Norway, tel: +47 3345 7000, fax: +47 3345 7242, website: http://www.jotun.com) Jotun 2006: Jotun Coatings: finding value in the global network For its fiscal 2006 Jotun Coatings, part of Norwegian company Jotun A/S, has reported sales of NKR 3590 M (NKR 2945 M for its fiscal 2005), of which: decorative paints accounted for 6%, marine coatings 65%, protective coatings 29%. Headcount is 1790. The company has production facilities in Australia, China, Finland, Italy, Singapore, South Africa, South Korea, Spain, Turkey, the UK, and the US. There is discussion of the business and of the results. Jotun Annual Report 2006, 15 Feb 2007, 9- 10 (Jotun A/S, PO Box 2021, N-3248 Sandefjord, Norway, tel: +47 3345 7000, fax: +47 3345 7242, website: http://www.jotun.com) Jotun 2006: Jotun Powder Coatings: a vital part of Jotun For its fiscal 2006 Jotun Powder Coatings, part of Norwegian company Jotun A/S, has reported sales of NKR 1114 M (NKR 979 M for its fiscal 2005), of which: architectural accounted for 18%, functional 18%, industrial 64%. Headcount is 743. The company has production facilities in Czech Republic, India, Indonesia, Malaysia, Norway, Pakistan, Saudi Arabia, Thailand, Turkey, the UAE, and Vietnam. There is discussion of the business and of the results. Jotun Annual Report 2006, 15 Feb 2007, 9,11 (Jotun A/S, PO Box 2021, N-3248 Sandefjord, Norway, tel: +47 3345 7000, fax: +47 3345 7242, website: http://www.jotun.com) Re-energized Akzo Nobel seeks acquisitions Akzo Nobel is changing its focus and getting ready for growth after the sale of its pharmaceutical business to Schering-Plough. The sale, which was worth around 11 bn ($14.7 bn), transformed the company into a new organization composed of 60% coatings and 40% chemicals, with pro-forma sales of $13.3 bn in 2006, pharmaceuticals not included. The company, which has divested a large portion of its non-lucrative chemicals portfolio, will actively engage in acquisitions in coatings and chemicals as part of its growth strategies. By 2012, Akzo expects to secure 20% of its sales in the Pacific Asia market, in which the company anticipates sales to almost double in the next five years. Chemical Week, 20 Jun 2007, (website: http://www.chemweek.com) GE Plastics adds conductive Noryl GTX resins to portfolio GE Plastics has expanded its ecomagination product line with the launching of Noryl GTX resins for use in powder coatings. Noryl GTX resins can reduce the emission of harmful solvents and related compounds into the air because these resins allow users to eliminate the need to apply electrostatic primer. Noryl GTX resins can also be used instead of metal substrates, thereby doing away with expensive and possibly harmful chemical pre-treatments. Paint and Resin Times, Jun 2007, (2), 10 Moving forward in China: investments in the chemicals and plastics industry A number of companies have announced plans to either start or expand operations in China by establishing new facilities and technical centres. Engineering polymers producer Ticona aims to set up a Customer Application Development Centre in Shanghai. Construction also started on its two new facilities for the manufacture of ultra high molecular weight polyethylene (UHMW-PE) and long-fibre reinforced thermoplastics (LFRTs). The new facilities will bolster Ticona’s worldwide capacity for

Moving forward in China: investments in the chemicals and plastics industry

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6 JULY 2007

F O C U S O N P O W D E R C O A T I N G S

chemicals and coatings units inJun 2007. Akzo Nobel is aimingfor sales in China to hit the $1bn mark by 2010. China isconsidered the largest market forpowder coatings with growthlevels at double digits. AkzoNobel now has more than 1000employees in five powdercoatings sites in the country. Itsother four powder plants are inBao An, Ningbo, Suzhou andLangfang, all in China.

European Paint and Resin News, May 2007,45 (5), 12

Bayer MaterialScience lowers theheat for powder coatings

German Bayer MaterialSciencehas developed Crelat XP 2571,which allows powder coatings tocure at temperatures of 140°C.Curing and baking also occur atthe same time at 120°C. Bakingfor polyurethane powder coatingusually takes 15 minutes at180°C. Using the catalyst systemwill enable powder coatings to beutilized on heat sensitivematerials such as plastics andwood.

European Paint and Resin News, May 2007,45 (5), 14

Jotun 2006: Jotun Paints:sustaining rapid growth

For its fiscal 2006 Jotun Paints,part of Norwegian company JotunA/S, has reported sales of NKR2491 M (NKR 2122 M for itsfiscal 2005), of which: protectivecoatings accounted for 21%,decorative paints 69%, marinecoatings 10%. Headcount is2080. The company hasproduction facilities in Egypt,Indonesia, Malaysia, Oman, SaudiArabia, Thailand, United ArabEmirates, Vietnam, and Yemen.There is discussion of thebusiness and of the results.

Jotun Annual Report 2006, 15 Feb 2007, 8-9(Jotun A/S, PO Box 2021, N-3248Sandefjord, Norway, tel: +47 3345 7000, fax: +47 3345 7242, website:http://www.jotun.com)

Jotun 2006: Jotun Coatings: findingvalue in the global network

For its fiscal 2006 JotunCoatings, part of Norwegiancompany Jotun A/S, has reportedsales of NKR 3590 M (NKR 2945M for its fiscal 2005), of which:decorative paints accounted for6%, marine coatings 65%,protective coatings 29%.Headcount is 1790. The companyhas production facilities inAustralia, China, Finland, Italy,Singapore, South Africa, SouthKorea, Spain, Turkey, the UK,and the US. There is discussionof the business and of theresults.

Jotun Annual Report 2006, 15 Feb 2007, 9-10 (Jotun A/S, PO Box 2021, N-3248Sandefjord, Norway, tel: +47 3345 7000, fax: +47 3345 7242, website:http://www.jotun.com)

Jotun 2006: Jotun PowderCoatings: a vital part of Jotun

For its fiscal 2006 Jotun PowderCoatings, part of Norwegiancompany Jotun A/S, has reportedsales of NKR 1114 M (NKR 979M for its fiscal 2005), of which:architectural accounted for 18%,functional 18%, industrial 64%.Headcount is 743. The companyhas production facilities in CzechRepublic, India, Indonesia,Malaysia, Norway, Pakistan,Saudi Arabia, Thailand, Turkey,the UAE, and Vietnam. There isdiscussion of the business and ofthe results.

Jotun Annual Report 2006, 15 Feb 2007,9,11 (Jotun A/S, PO Box 2021, N-3248Sandefjord, Norway, tel: +47 3345 7000, fax: +47 3345 7242, website:http://www.jotun.com)

Re-energized Akzo Nobel seeksacquisitions

Akzo Nobel is changing its focusand getting ready for growth afterthe sale of its pharmaceuticalbusiness to Schering-Plough. Thesale, which was worth around€11 bn ($14.7 bn), transformed

the company into a neworganization composed of 60%coatings and 40% chemicals, withpro-forma sales of $13.3 bn in2006, pharmaceuticals notincluded. The company, whichhas divested a large portion of itsnon-lucrative chemicals portfolio,will actively engage inacquisitions in coatings andchemicals as part of its growthstrategies. By 2012, Akzo expectsto secure 20% of its sales in thePacific Asia market, in which thecompany anticipates sales toalmost double in the next fiveyears.

Chemical Week, 20 Jun 2007, (website:http://www.chemweek.com)

GE Plastics adds conductive NorylGTX resins to portfolio

GE Plastics has expanded itsecomagination product line withthe launching of Noryl GTX resinsfor use in powder coatings. NorylGTX resins can reduce theemission of harmful solvents andrelated compounds into the airbecause these resins allow usersto eliminate the need to applyelectrostatic primer. Noryl GTXresins can also be used insteadof metal substrates, thereby doingaway with expensive and possiblyharmful chemical pre-treatments.

Paint and Resin Times, Jun 2007, (2), 10

Moving forward in China:investments in the chemicals andplastics industry

A number of companies haveannounced plans to either start orexpand operations in China byestablishing new facilities andtechnical centres. Engineeringpolymers producer Ticona aims toset up a Customer ApplicationDevelopment Centre in Shanghai.Construction also started on itstwo new facilities for themanufacture of ultra highmolecular weight polyethylene(UHMW-PE) and long-fibrereinforced thermoplastics (LFRTs).The new facilities will bolsterTicona’s worldwide capacity for

JULY 2007 7

F O C U S O N P O W D E R C O A T I N G S

UHMW-PE to 90,000 tonnes/yand 35,000 tonnes/y for LFRT.Both plants will be completed in2008. The Phase II of Victrex’sAsia Innovation and TechnologyCentre (AITC), which wasinaugurated in Jun 2007, wascompleted with the startup of itssecond coatings production plantin Shanghai. Akzo Nobel intendsto install a €250 M ethyleneamines and chelating agentsfacility in Ningbo. The chelatingagents facility is due for startupin 2009, while the ethyleneamines plant will come online inearly 2010. Akzo Nobel has anexisting polymer chemicals andpowder coatings facility in Suzhou.

Plastics and Rubber Asia, Jun 2007, 22(150), 4

Asian Paints: results for 4Q 2006-2007

Asian Paints Ltd has reported anet profit of Rup 690.8 M on netsales/ operating income of Rup7270.27 M for 4Q ended Mar2007 (net profit of Rup 200.85 Mon net sales/ operating income ofRup 5644.83 M in 4Q ended Mar2006). During 4Q 2006-2007, thecompany derived revenues ofRup 7017.33 M from its paintsbusiness (revenues of Rup5503.91 M in 4Q 2005-2006).Asian Paints posted a net profitof Rup 2699.25 M on net sales/operating income of Rup28.21293 bn for the year endedMar 2007 (net profit of Rup1878.05 M on net sales/operating income of Rup23.19155 bn in the year endedMar 2006). The company hasrecommended a final dividend ofRup 1/share taking the totaldividend to Rup 13/share of Rup10 for 2006-2007.

Asian Paints commissioned itsnew industrial paintsmanufacturing plant at Taloja inMaharashtra on 9 Feb 2007. Theincluded tables highlight theaudited results, segment-wiserevenue and capital employed bythe company for the quarters andyears ended Mar 2006, Mar

2007, nine months ended Dec2006 besides the auditedconsolidated results for the yearsended Mar 2006 and Mar 2007.

Business Standard, 11 May 2007, 9 (267),I.9

Akzo Nobel commissions paintsplant in Russia

Akzo Nobel Powder Coatings hasofficially commissioned its firstpaints plant in Russia, atOrekhovo, near Moscow. There isspace on the site for the €13 Mfacility to be expanded in thefuture. The plant has twoproduction lines and thecommissioning of a further twolines is planned for mid-2008.

Het Financieele Dagblad, 5 Jul 2007,(website: http://www.fd.nl/) (in Dutch)

Akzo bid ‘undervalues’ ICI

UK-based paints, adhesives andspeciality products producer ICIhas declined the acquisition offerfrom Akzo Nobel, a paints andcoatings manufacturer in theNetherlands, saying that the offerundervalues the company. AkzoNobel’s bid of 600 pence/sharewould peg ICI’s value at £7.2 bn($14.3 bn). ICI said the proposalwas unanimously rejected by itsboard. Observers had expectedAkzo Nobel’s move on ICI afterthe company announced the saleof its Organon BioSciences toSchering-Plough for €11 bn.Analysts expect Akzo to increaseits offer, and that a bidding warcould increase the takeover offerto up to 700-750 pence/share.

ICIS Chemical Business, 25 Jun 2007,(website: http://icischemicalbusiness.com)

Akzo told to ‘put up or shut up’ onICI bid

The future of one of Britain’smost famous companies could bedecided by the end of thesummer after the Dutchconglomerate Akzo Nobel wasgiven until 9 Aug 2007 to bid forthe Dulux paints group ICI or

walk away. ICI asked theTakeover Panel to issue a “putup or shut up” order after hearingnothing from Akzo since rejectinga £7.2 bn takeover proposal on 4Jun 2007. The ruling means thatunless Akzo makes a bid by thedeadline it will be barred fromlaunching a takeover for sixmonths.

ICI shares fell 6p to 614p,suggesting the market isunconvinced that Akzo will comeback with a bid. Akzo cleared thedecks by selling itspharmaceutical division for around£11 bn in order to concentrate onits paints business.

Akzo owns Crown paints in theUK, which has a 14% marketshare, while ICI’s Dulux has 40%,so a combination of the twobrands would be certain to triggera competition probe. Butobservers believe that Akzowould be prepared to sell Crownto gain the rest of ICI’s business,which is growing by leaps andbounds in Latin America andAsia. ICI, once seen as abarometer of Britain’s industrialhealth, is one of the world’sleading coatings, adhesives,starch and synthetic polymersbusinesses and could attract rivalbids from the likes of Germany’sBASF or US giants such asDuPont and Dow Chemical.

The Independent, 7 Jul 2007, (website:http://www.independent.co.uk)

Asian Paints to sell off Australianunit

Paint major Asian Paints hasdecided to divest its stake inAsian Paints (Queensland) Ltdheld by its 100% subsidiary AsianPaints (International), Mauritius.Analysts opine that thedivestment of the stake will notsignificantly affect the company’sperformance, as the operations ofthe Australian unit contributedonly Rup 150 M to Asian Paint’stotal revenues of Rup 37 bn in2006-2007.

Business Standard, 16 Jun 2007, 9 (298),II.1