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Paramelt strengthens position in adhesives

July 19, 2001 - Paramelt has reached agreement with the AVEBE Group to acquire Scholten Adhesives BV of Veendam, the Netherlands.This acquisition reinforces Paramelt's position in adhesives for use in packaging and construction applications.

Paramelt is European market leader in industrial waxes with a turnover of Euro 45 million and 150 employees.

Scholten Adhesives employs 50 people and reaches a turnover of Euro 15 million.

The completion and exchange of contracts is expected to take place in the next months.