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Dynea to Build Formaldehyde and Resins Plant in South Thailand

Published on 2004-10-29. Author : SpecialChem

The Board of Directors of Dynea International Oy has approved a plan to build a world scale formaldehyde and resins plant in Hatyai, in Southern Thailand.

The plant will supply the fast growing wood panel industries in the region. "This investment fits well with our growth plans and is in line with our goal to be the principal panel board resin producer in Asia Pacific. By locating as close to our customers as possible, we focus on developing tailor-made solutions together with our customers, the panel board manufacturers in Southern Thailand", says Øivind Isaksen, Senior Vice President of Dynea's Panel Board Resins in Asia Pacific.

The plant's initial manufacturing capacity of nearly 60,000 tonnes per year of adhesive resins with provision for further expansion to more than 100,000 tonnes. These formaldehyde based adhesives resins will be used mainly in the manufacturing of panel boards, such as particleboard and MDF. Southern Thailand, with its growing number of wood panel and woodworking customers, is considered an important market area for Dynea's adhesive resins products.

When combined with Dynea's existing resin capacity in Krabi, the new Hatyai plant will bring Dynea's production capacity in Southern Thailand up to 120,000 tonnes per year. The Hatyai plant is expected to go on line at the end of 2005.

"Dynea's strategy for global growth includes strengthening our presence in Asia. This new investment in Thailand is again proof of Dynea's commitment to meet the needs of our fast growing customer industries in the Asian markets", Roger Carlstedt, President and CEO of Dynea, says.

Dynea's operations in South Thailand are a joint venture between Dynea and Thai investors.

Dynea in Brief

Dynea is a global provider of superior adhesion and surfacing solutions. Dynea's Prefere™ adhesive resins are used in a variety of applications by the panel board industry, laminated beam and structural wood manufacturers, the mineral and glass fibre industry, the paper impregnating industry, and many others. Dynea's Ultim™ family of high quality paper overlays products are for both decorative and industrial uses.

Dynea has combined revenues of approximately EUR 1.0 billion. With 55 production units in 26 countries in Europe, the Americas and Asia Pacific, Dynea has some 3,200 employees.

In the Asia Pacific region, Dynea produces adhesive resins in Australia, China, Indonesia, Malaysia, New Zealand, Pakistan, Singapore, Thailand and Vietnam. Dynea also has paper overlays production in Indonesia and is building additional capacity in China. Dynea's R&D centres, serving primarily the region's wood-working industries are located in New Zealand and Singapore.

Industri Kapital in Brief

Dynea is controlled by the Industri Kapital 1997 and 2000 funds. Industri Kapital is a European private equity firm with Nordic roots, managing close to EUR 4 billion in fund commitments from Nordic, European and international institutional investors. Since 1989, Industri Kapital has acquired 48 European companies. The current portfolio encompasses 26 companies with a total turnover exceeding EUR 9 billion.

Source: Dynea

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