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Nuplex and Allnex agree on acquisition

15 June 2016

As Nuplex Industries Ltd shareholders prepare to vote on the acquisition offer from Allnex Belgium SA/NV, a leading global coating resins producer, Nuplex Composites has moved to reassure the Australian and New Zealand composites industry that it is “business as usual”.

The Independent Directors of Nuplex have unanimously recommended shareholders vote in favour of the offer. Prior to the meeting, scheduled to take place on 7 July 2016 in New Zealand, Allnex needs regulatory approvals in a number of jurisdictions, including New Zealand, Australia and China.

Nuplex chairman Peter Springford said: ‘‘Nuplex and Allnex are complementary businesses and bringing them together would create a leading, global, independent coating resins producer.”

In a statement Nuplex Composites, a division of Nuplex Industries, said: “It is business as usual. We remain the leading manufacturer of unsaturated polyester resins, vinyl ester resins, gelcoats and flowcoats in Australia and New Zealand. We remain committed to supporting the local composites industry as we have done for decades.”

Nuplex started in Auckland in 1952 as a flooring distributor before branching out into resins and polymers during the next 20 years. Today the company’s headquarters are in Sydney, and it has 16
production sites located across Asia, Europe, America, Australia and New Zealand, plus a global R&D
network of local technical service support, regional R&D centres and a dedicated Innovation Centre in The Netherlands.

Allnex, formerly Cytec Industries’ Coating Resins business and acquired by global private equity firm, Advent International Corporation, in 2013 for US$1.15 billion, is a leading global producer of coating resins and additives for architectural, industrial, protective, automotive and special purpose coatings and inks. Allnex has 17 manufacturing sites and 12 R&D support facilities.

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