Rohm and Haas Completes Sale of European Automotive Coatings Business to Mäder
Frankfurt, Germany, June 29, 2007 - Rohm and Haas Company (NYSE: ROH) has finalized the sale of its European Automotive Coatings business, including its manufacturing site in Strullendorf, Germany, to the Mäder Group, a leading independent manufacturer of hi-tech industrial paints and coatings based in Lille, France, with operations throughout Europe.
This transaction completes Rohm and Haas Company's divestiture of its Automotive Coatings business, which started with the sale of the its Automotive Coatings operations in North America (United States, Canada and Mexico) and the Asia Pacific region to Nippon Paint Co., Ltd., in October 2006.
The business manufactures a comprehensive range of automotive coatings, with a focus on interior water-based products, which are supplied to high-end OEMs. In addition, the business also produces specialty coatings with applications in the general industrial and optical media markets. The business had sales of $25 million in 2006 and sales of $7 million in first quarter 2007. Financial terms of the transaction were not disclosed.
The coatings business acquired from Rohm and Haas Germany will be integrated into a new company named Mäder Plastilack GmbH with the intention of building a strong synergy between Mäder's French Division, Soritec, located in Saint-Georges-sur-Loire in western France, that is currently dedicated to plastic coatings. The new Mäder Plastilack GmbH will be located in Strullendorf and will also focus on plastic coatings manufacture and contribute to making the company the European leader in interior automotive coatings.
Contacts:
Rohm and Haas Company
Ms. Eva Loschert, Public Relations Manager, Germany
Frankfurt, Germany
Office: + 49 69 7899 6136
E-mail: ELoschert@rohmhaas.com
The Mäder Group
Ms. Aurélie Vermesse, Head of Corporate Communications
Lille, France
Office: + 33 3 20 12 79 57
Rohm and Haas Company
Syd Havely, European Communications Director
Philadelphia, PA
Office: 215-592-3938
E-mail: SHavely@rohmhaas.com
About Rohm and Haas Company
Leading the way since 1909, Rohm and Haas is a global pioneer in the creation and development of innovative technologies and solutions for the specialty materials industry. The company's technologies are found in a wide range of industries including: Building and Construction, Electronics and Electronic Devices, Household Goods and Personal Care, Packaging and Paper, Transportation, Pharmaceutical and Medical, Water, Food and Food Related, and Industrial Process. Our innovative technologies and solutions help to improve life everyday, around the world. Based in Philadelphia, PA, the company generated annual sales of approximately $8.2 billion in 2006. Visit www.rohmhaas.com for more information. imagine the possibilities(TM)
About the Mäder Group
The Mäder Group is a major independent manufacturer of industrial paints and coatings serving the railway, automotive and aerospace industries with an R&D emphasis on advance technology resins. It has annual sales of 120 million, a seven-times sales growth since 1997, with facilities in France, Switzerland and Germany and joint ventures in Italy and China. Mäder also has partnership agreements with UPC in the U.S. and Ohashi in Japan to insure worldwide market penetration. These include a wide range of automotive coatings for automakers in France, including Peugeot and Renault. For more information, visit www.mader-group.com
Rohm and Haas Company, 100 Independence Mall West, Philadelphia, PA 19106-2399 United States
