media release

Akzo Nobel forms new Indonesian joint venture for decorative paints

Press Release - Akzo Nobel has signed a contract with Plascon UK to acquire its United Kingdom and Republic of Ireland specialty paint businesses.

Arnhem, the Netherlands, June 25, 2002 - Akzo Nobel has formed a joint venture in Indonesia with PT Bina Propertindo Edikarya. Akzo Nobel will have a 65 percent shareholding in the new company which will produce decorative paints for the Indonesian market.

“The decorative paint market in Indonesia is very big. Despite the fact that the percapita consumption still is relatively low,” said Rudy van der Meer, Member of the Akzo Nobel Board of Management responsible for Coatings. “This joint venture leaves us ideally placed to play a major role in future growth in this area, because our position will be increased now that our products are being produced locally.”

“This is an important step in increasing our market share in the Asia Pacific region where we already have operations in China and Vietnam,” added Jan Andersson, General Manager of Akzo Nobel Decorative Coatings International responsible for the Indonesian joint venture. “Indonesia is a big market with great potential.”

Production for the new company will be based in Cikarang, on the premises of Marine and Protective Coatings, another of Akzo Nobel Coatings’ business units.

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