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Henkel Acquires Majority in Polybit Industries

Published on 2005-07-25. Author : SpecialChem

DUSSELDORF, Sharjah, United Arab Emirates -- Effective June 30, 2005, the Henkel Group acquired a 49-percent shareholding and also the management rights in Polybit Industries Ltd., a company based in the United Arab Emirates. Polybit offers a complete range of waterproofing solutions for the construction industry and is the market leader in the United Arab Emirates.

"By acquiring a majority shareholding in Polybit Industries, we are establishing an excellent position for serving the construction industry in the United Arab Emirates," says Alois Linder, Executive Vice President Consumer and Craftsmen Adhesives of Henkel KGaA. "This will allow us to profit from the veritable boom in the construction sector throughout the entire region."

With a workforce of about 250 employees, Polybit Industries generated sales of some 25 million euros last year. The company develops and produces waterproofing and corrosion-inhibiting sealants and coatings for the construction industry. It operates mainly in the Middle East, Africa and Asia.

"Henkel - A Brand like a Friend"

Henkel is a leader with brands and technologies that make people's lives easier, better and more beautiful. The Henkel Group operates in three strategic business areas - Home Care, Personal Care, and Adhesives, Sealants and Surface Treatment. In fiscal 2004 the Henkel Group generated sales of 10,592 billion euros. More than 50,000 employees work for the Henkel Group worldwide. People in around 125 countries around the world trust in brands and technologies from Henkel.

This information contains forward-looking statements which are based on the current estimates and assumptions made by the corporate management of Henkel KGaA. Statements with respect to the future are characterized by the use of words such as "expect", "intend", "plan", "anticipate", "believe", "estimate", and similar terms. Such statements are not to be understood as in any way guaranteeing that those expectations will turn out to be accurate. Future performance and results actually achieved by Henkel KGaA and its affiliated companies depend on a number of risks and uncertainties and may therefore differ materially from the forward-looking statements. Many of these factors are outside Henkel´s control and cannot be accurately estimated in advance, such as the future economic environment and the actions of competitors and others involved in the marketplace. Henkel neither plans nor undertakes to update any forward-looking statements.

Source: Henkel

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