Rhodia and Lyondell Complete Sale of Their Isocyanates Businesses to Perstorp

PARIS--(BUSINESS WIRE)--

Regulatory News:

Rhodia (Paris:RHA) and Lyondell Chimie TDI SCA today announced that they completed the sale of their Isocyanates businesses to the Perstorp Group.

This divestment includes Rhodia’s aliphatic Isocyanates activity and Lyondell’s aromatic Isocyanates business. These activities are essentially based in Pont-de-Claix (France), in Freeport (USA) and together employ around 680 people.

Rhodia is an international chemical company resolutely committed to sustainable development. As a leader in its businesses, the Group aims to improve its customers’ performance through the pursuit of operational excellence and its ability to innovate. Structured around six Enterprises, Rhodia is the partner of major players in the automotive, tire, electronics, perfume, health & beauty and home care markets. The Group employs around 15,000 people worldwide and generated sales of €4.8 billion in 2007. Rhodia is listed on Euronext Paris.

Lyondell Chimie TDI SCA is a subsidiary of LyondellBasell Industries, LyondellBasell Industries is one of the world’s largest polymers, petrochemicals and fuels companies. We are the global leader in polyolefins technology, production and marketing; a pioneer in propylene oxide and derivatives; and a significant producer of fuels and refined products, including bio-fuels. Through research and development, LyondellBasell develops innovative materials and technologies that deliver exceptional customer value and products that improve quality of life for people around the world. Headquartered in the Netherlands, LyondellBasell (www.lyondellbasell.com) is privately owned by Access Industries.

Created in Sweden in 1881, the Perstorp Group is a front-ranking player in the specialty chemicals industry. The Group is present, in particular, in the markets for Paints & Coatings, Plastics, Agro-food and Lubricants. Perstorp has approximately 2 000 people on a dozen production sites in Europe, Asia, North and South America and runs 3 Research & Development centers in Sweden, Finland and India. It also owns an American subsidiary specializing in research into, and the production of, components designed for the aerospace industries. The Group generated net sales of €928m in 2007.