CLEVELAND, Sept. 30 /PRNewswire/ -- Noveon, Inc. announced today that it
has acquired an ownership interest in and formed a joint venture with
Specialty Natural Products Co., Ltd., ("SNP") a manufacturer of botanical
extracts used in personal care product formulations. The terms of the
agreement were not disclosed. This investment expands Noveon's personal care
product offering to include natural-based, special use additives important to
its customer base. Noveon will market SNP's products on an exclusive basis
worldwide.
(Logo: http://www.newscom.com/cgi-bin/prnh/20010523/CLW011LOGO-b )
Located in Bangkok, Thailand, SNP's state of the art manufacturing
facility produces botanical extracts from plants indigenous to Thailand.
According to Bill Sedlacek, Senior Vice President and General Manager of
Noveon's Personal Care and Pharmaceutical business, "The combination of SNP's
capabilities to produce the highest quality botanical extracts and Noveon's
global distribution channels provides the opportunity to establish Thai
botanical extracts as key personal care ingredients globally. We are very
excited about the possibilities this combination brings to our global customer
base."
With the investment in SNP, Noveon's product offerings to the personal
care industry now include:
-- Carbopol(R) rheology modifiers
-- Pemulen(R) polymeric emulsifiers
-- Ultrasil(TM) and Ultrabee(R) Specialty Silicones and Guerbet Esters
-- Fixate(TM) hair styling resins
-- Novemer(R) EC-1 Polymer
-- Avalure(R) film-forming polymers
-- Botanical extracts from Thailand and the Amazon
Noveon is a leading global producer and marketer of technologically
advanced specialty chemicals for a broad range of consumer and industrial
applications. Noveon is headquartered in Cleveland, Ohio, with regional
centers in Brussels, Belgium, and Hong Kong. The company had sales in 2002 of
$1.1 billion and employs about 2,800 at office and manufacturing locations
around the world.
This release contains forward-looking statements that relate to future
events or performance. These statements reflect the Company's current
expectations, and the Company does not undertake to update or revise these
forward-looking statements, even if experience or future changes make it clear
that any projected results express or implied in this or other Company
statements will not be realized. Furthermore, investors are cautioned that
these statements involve risks and uncertainties, many of which are beyond the
Company's control, which could cause actual results to differ materially from
the forward-looking statements. Further information about these risks can be
found in the Company's filings with the Securities and Exchange Commission.
Investors are cautioned not to place undue reliance on any forward-looking
statements contained herein, which speak only as of the date hereof. The
Company undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements that may be made to reflect
events or circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
SOURCE Noveon, Inc.
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CONTACT:
Sean Stack of Noveon, Inc., +1-216-447-6494
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