GENERAL: NPX: Nuplex Expands its Specialties Business with Med-Chem

24 Mar 2010 8:30 am

NPX 24/03/2010 GENERAL

REL: 0830 HRS Nuplex Industries Limited

GENERAL: NPX: Nuplex Expands its Specialties Business with Med-Chem

23 March 2010

Nuplex Expands its Specialties Business with Med-Chem Acquisition

Nuplex Industries Limited, the leading manufacturer and marketer of resins and specialties, has agreed to acquire the goodwill of the Australian and New Zealand ingredient business of the Med-Chem group of companies. The other assets of that group remain with the current owners.

The acquisition for an undisclosed sum, becomes effective March 26, 2010 and is expected to increase the earnings of Nuplex's Specialties business by more than 15% for the first 12 months. Employees in Australia and New Zealand who are directly related to sales and customer service will join Nuplex.

Mr John Hirst, group managing director of Nuplex, said: 'Med-Chem has a strong market position as a supplier to sophisticated segments of the Australian and New Zealand food, pharmaceutical and personal care manufacturing industries. 'The addition of the Med-Chem product range, which includes Roquette starch and starch derivatives, will complement and strengthen our Specialties offering to the food and nutrition market sectors. Nuplex's greater market reach will also provide further growth opportunities for these products in other industrial markets.

'This acquisition is consistent with our strategy to grow in the Australasian high compliance market sectors. The Med-Chem business will expand our agency base and continue our focus on functional materials where Nuplex's in-house technical and compliance resources add value to distributed raw materials."

Nuplex Industries Limited is a leading international manufacturer and distributor of resins for coatings and composites, and specialty products for the construction, chemical, plastic and life sciences industries. It has manufacturing operations in ten countries on four continents. Australia generates the largest share of earnings, followed by Asia and Europe. The company also earns significant contributions from the Americas and New Zealand. Nuplex is listed on the Australian and New Zealand exchanges and has a market capitalisation of A$490 million/NZ$630 million.

For further information, please contact:

John Hirst +61 2 9666 0331

Media enquiries: New Zealand: Amanda West, Merlin Consulting, +649 585 1519 / +64 210 439 674 Australia: Ashley Rambukwella, Financial & Corporate Relations +61 2 8264 1000 End CA:00192847 For:NPX Type:GENERAL Time:2010-03-24:08:30:45

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