JV of Georgia Pacific and Kemrock
Georgia-Pacific Resins and Kemrock Industries Enter Into Mutual Investment Agreement
ATLANTA, GA. July 28, 2006 -- Georgia-Pacific Resins, Inc. (GPRI), a subsidiary of U.S.-based Georgia-Pacific Corp., today announced a mutual investment between itself and Kemrock Industries and Exports Limited of Gujarat, India. The two companies have formed Georgia-Pacific Kemrock International Private Limited, which will offer thermosetting resins to a variety of industrial markets in India, Bangladesh, Sri Lanka, Bahrain, Saudi Arabia, Kuwait and the United Arab Emirates.
GPRI is licensing its phenolic resins technology to Kemrock Industries for the composites, coated abrasives and foundry markets. The products will be manufactured by Kemrock Industries at its facility in Vadodara (Baroda), India, and distributed by the mutual investment company. Georgia-Pacific Kemrock International also will offer non-phenolic resins such as polyesters, vinyl esters and epoxies manufactured by Kemrock Industries. GPRI previously licensed its phenolic resin technology to Kemrock Industries in 2004 for the manufacture of composite products for a variety of applications.
“Kemrock is an important and respected business partner and we are very pleased to grow our relationship with them,” said Peter Williams, GPRI’s vice president of specialty resins and international business. “This investment further expands our business globally by marketing our combined resin technology to key industrial segments of the rapidly expanding Indian and regional markets.”
“We are excited about this mutual investment with Georgia-Pacific Resins - a recognized technology leader,” said Kalpesh Patel, chairman and managing director - Kemrock Industries. “We strongly believe that this relationship will help us expand our reach into specialty industrial markets and realize our vision of being a one stop customized composites solution for India and nearby regions.”
Kemrock Industries and Exports Limited entered into the thermosetting composites market in the early 1980s and today is one of India’s leading manufacturers of high-performance reinforced thermoset composites. Kemrock is a technology-driven ISO 9001-2000 company offering composite products meeting global standards. Kemrock’s manufacturing capabilities are among the most comprehensive in the industry, including in-house manufacturing of phenolic, vinyl ester, polyester and epoxy resins, as well as state-of-the-art composite processes such as pultrusion, hand lay-up, sheet molding, compression molding, vacuum infusion and resin transfer molding. For more information, visit www.kemrock.com.
GPRI is a leading supplier of thermosetting resins and chemicals used in building products, paper making and specialty industrial applications. It operates 15 chemical plants in the United States, as well as a plant in Brazil, Chile and Argentina, and has a manufacturing presence in South Africa and China.
Headquartered at Atlanta, Georgia, in the United States, Georgia-Pacific is one of the world’s leading manufacturers and marketers of tissue, packaging, paper, pulp, and building products and related chemicals. The company employs approximately 55,000 people at more than 300 locations in North America, South America and Europe. Its familiar consumer tissue brands include Quilted Northern®, Angel Soft®, Brawny®, Sparkle®, Soft 'n Gentle®, Mardi Gras®, So-Dri® and Vanity Fair®, as well as the Dixie® brand of disposable cups, plates and cutlery. Georgia-Pacific’s building products manufacturing business has long been among the nation’s leading suppliers of building products to lumber and building materials dealers and large do-it-yourself warehouse retailers, with brands such as Plytanium®, Plybead®, DensArmor Plus™, DensGlass Gold®, and ToughRock®. For more information, visit www.gp.com.
Media Contacts:
Caryn King (404) 652-4247
Melodie Ruse (404) 652-4747
