Dynea sells Russian shares

April 13, 2012 – Dynea Chemicals Oy has sold its shares in its Russian joint-venture companies ZAO MetaDynea and OOO Karbodin to Kirsis Incorporation, a third-party investment company. The closing of the deal took place April 12, 2012.

MetaDynea and Dynea have also concluded a strategic partnership agreement of continued support and technology from Dynea. This ensures MetaDynea customers will not be affected by the ownership changes. MetaDynea will continue to supply customers with high quality adhesive resins, based on Dynea technology and marketed under the Prefere® trade name, as well as the accustomed Technical Service from Dynea. MetaDynea continues to supply the Russian, Belorussian and Kazakhstan markets, including exports outside of the territory.

Dynea will also support MetaDynea with product and business development work in Russia, as needs arise. “MetaDynea will continue in its existing businesses with the existing name and serving customers in the way they are used to since the start-up of supplies and service in 2004,” says Vladimir Daut, Chairman of the Board of MetaDynea.

The sale of the joint-venture shares is part of Dynea’s strategy to concentrate its activities in core geographical markets. “While we continue to support MetaDynea and therefore customers in Russia through the strategic partnership, we will focus on developing our business and services in our home markets,” says Hans Pettersson, President and CEO of Dynea.

In March, Dynea divested its remaining activity in South America with the sale of its Brazilian business Dynea Sao Paulo Industria de Resinas Ltda to SI Crios.
For more information please contact Hans Pettersson, President and CEO, Dynea Tel. +358 10 585 2064; email: hans.pettersson@dynea.com

Dynea in brief
Dynea is a world-leader in creating high value adhesion and surfacing solutions for the wood processing and construction industries as well as for other select industrial applications. The company has 36 production plants and some 2000 employees in 21 countries in Europe and the Asia Pacific region.