PQ Corp. Acquires 100% of Akzo-PQ Silica

May 22, 2001
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VALLEY FORGE, Pa.; and ARNHEM, the Netherlands — PQ Corp. and Akzo Nobel N.V. have announced that PQ Corp. has acquired 100% of Akzo-PQ Silica (APS), PQ’s 50-50 joint venture with Akzo Nobel, which manufactures silicate and silica gel products in Europe. PQ also announced that the silicate and silica-related operations involved in this purchase will be known as PQ Europe. The financial terms of the transaction were not disclosed.

Commenting on PQ’s move to purchase Akzo-PQ Silica, Michael R. Imbriani, executive vice president with responsibility for PQ’s global industrial chemical business, noted, “The silicate and silica gel operations of APS are core to PQ’s activities. Their purchase enhances the leading global position we have in a number of silicate and silica-related product areas. This acquisition is in the best long-term interests of the employees, the customers and the business.”

Dag Strömqvist, Akzo Nobel’s board member responsible for the Chemicals Group, said, “This sale is in line with our strategy to focus on our core businesses. Clearly, while the joint venture worked well, PQ Corp. is more focused on this area of business than we are and is now in a position to further develop it. It is by no means the end of our relationship. We will remain a customer for these products.”

PQ Corp. is a leading worldwide producer of soluble silicates, silica-based derivative products, and solid glass spheres with revenues in excess of $500 million. For more information, visit www.pqcorp.com, or www.akzonobel.com.

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