With effect from 31st July, 2004 AKG Polymers will take over the activities of Synbra Polymers Ltd. and at the same time Synbra Polymers Ltd. UK will cease business. The takeover by AKG Polymers concerns most of the activities of Synbra Polymers Ltd.

AKG Polymers is owned by the Aufderhaar Kunststof Groep BV in Vroomshoop, The Netherlands, and is specialised in manufacturing polypropylene (PP) compounds used for media packaging, horticulture, building and construction, infrastructural applications and the automotive industry.

Synbra Polymers Ltd. is owned by the Synbra Group BV, based in Etten-Leur, The Netherlands. The Synbra Group is a vertically integrated company, active in polymerisation of Expandable Polystyrene (EPS) for consumption in its downstream businesses in construction and packaging. Synbra Polymers Ltd. recycles polypropylene and, to a lesser extent, polystyrene into compounds which are used for foil manufacturing and injection moulding.

Following some earlier divestments the PP compounding business in Congleton was a less natural fit in the core activities of the Synbra Group and AKG Polymers was identified as the preferred candidate for a takeover.

After careful consideration AKG Polymers has decided not to continue the activities in Congleton but to incorporate the entire capacity in their existing plant in Vroomshoop. There will be a short transition period during which capacity is transferred from Congleton to Vroomshoop, whereupon the existing customers of Synbra Polymers will continue to be supplied by AKG Polymers.

With this acquisition, AKG Polymers will increase its capacity to 28,000 ton annually making it one of the leading European polypropylene reprocessors. With this increase AKG Polymers takes a proactive stance to meet the requirements of the polymer industry to provide reliable alternatives for expensive raw materials.

The polystyrene activity of Synbra Polymers will be transferred to Synbra Technology BV in Etten-Leur, The Netherlands.

The Synbra Group will continue to focus principally on the reinforcement and development of its EPS based activities.

For further information please contact:

J.Bel/ W. Wesselink, AKG Polymers BV tel +31 546 66 77 88 or
J. Noordegraaf, Synbra Technology BV tel +31 168 373 373
L. Litjens, Synbra Group BV tel +31 168 373 380
Etten-Leur/Vroomshoop