Dynea to Focus on Phenolic Resin Activities by Selling its Austrian Operations

Helsinki, Finland -- Dynea Chemicals Oy has completed the sale of shares of Dynea Holding GmbH, Dynea Austria GmbH and Krems Chemie Service GmbH to Arirang Holdings Ltd, a Cyprus company.

Dynea Austria produces mainly amino resins for composite boards, decorative surfaces and plywood. The company will continue to toll manufacture resins for other Dynea entities. Dynea Austria had a turnover in 2012 of EUR 144 million and currently employs 119 persons.

The sale of the Austrian operations is in line with Dyneas strategy to concentrate its resources around its phenolic resin activities.

About Dynea

Dynea is an international provider of superior adhesion and surfacing solutions is owned by the IK Funds advised by IK Investment Partners, a leading European private equity company. Today, Dynea has 12 plants in 10 countries in Europe.

Source: Dynea