SOLVAY ADVANCED POLYMERS SELLS PARTS BUSINESS TO PARKWAY PRODUCTS
29 June 2004 - Solvay Advanced Polymers Llc

Solvay Advanced Polymers Llc and Parkway Products Inc has announced today that Parkway Products has purchased Solvay Advanced Polymers' high-performance plastic parts business located in Atlanta, Georgia.

The business operates a facility which manufactures parts from Solvay Advanced Polymers' Torlon Polyamide-imide and Kadel Polyketone resins, and is an automotive Tier 1 supplier holding certifications for QS 9000, TS 16949 and ISO 14001. While specialising in serving the automotive market, the business also serves military, aerospace and various industrial markets. Parkway intends to maintain the plant's expertise in part design, prototyping, moulding and tool building.

Joe Klunk, Executive Vice President and COO of Parkway Products said, 'This clearly strengthens our position as a high performance moulder and components supplier and greatly enhances our presence in the automotive market. This fits perfectly with Parkway's growth strategy. We see synergies across our business units.'

Gary Willig, President of Parkway Products said, 'With the combination of Solvay Advanced Polymers' leading position in high-performance resins and Parkway's presence as a top tier North American moulder, we expect to offer exceptional value and performance to new and existing customers.'

'This acquisition brings a tremendous talent and customer base to an already successful company,' said Joseph D. Greulich, President and CEO of Solvay Advanced Polymers. Daryl Brace, Business Manager for Parkway Products and formerly with Solvay Advanced Polymers, reflected on the many successes of the business line and added, 'With an excellent safety and environmental record (the plant recently achieved a ten-year record without a lost time accident) and the site's leading edge quality programmes, the employees are excited to become a part of the Parkway Products team and to contribute toward Parkway's goals.'

Parkway Products Inc is a privately held moulder of high performance materials, which is based in Florence, Kentucky, USA. The company operates six manufacturing locations in the USA and two in Mexico. Parkway serves a broad base of industries including medical equipment, aerospace, electronic and telecommunications, automotive, and consumer and industrial. The company is one of the top 100 largest moulders in the USA.

http://www.solvayadvancedpolymers.com

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