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Omnova buyout

Omnova Solutions, a US-based company, has completed the acquisition of the remaining 49.9-per-cent interest of its joint-venture manufacturing businesses in Thailand and China from CPPC, an affiliate of Charoen Pokphand Group.

Published on January 9, 2008

The buyout makes Omnova Solutions sole owner of CPPC-Decorative Products

in Thailand, and CG-Omnova Decorative Products (Shanghai) and Beston Omnova Plastics (Taicang), both in China.

Omnova Solutions was the majority owner of the joint ventures, at 50.1 per cent. Unconsolidated sales from the joint ventures for 2007 are expected to be US$106

million (Bt3.53 billion), for applications such as upholstery for commercial and residential furniture as well as for the marine and transportation markets.

The operations will be renamed Omnova Decorative Products Thailand, Omnova Decorative Products (Shanghai) and Omnova Decorative Products (Taicang).

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Omnova buyout

Omnova Solutions, a US-based company, has completed the acquisition of the remaining 49.9-per-cent interest of its joint-venture manufacturing businesses in Thailand and China from CPPC, an affiliate of Charoen Pokphand Group.

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