Omnova Solutions Finalizes Acquisition Of Joint Ventures

Fairlawn, Ohio-based Omnova Solutions Inc. has completed its acquisition of three joint venture decorative products manufacturing businesses in Asia from Thailand-based CPPC Public Company Ltd., its former partner in the joint ventures.

Omnova Decorative Products Thailand (formerly CPPC-Decorative Products Co. Ltd.), is a producer of coated vinyl upholstery, commercial wallcoverings, laminates and films for the Asian and North American furniture, interiors, marine and transportation markets, as well as films for industrial applications. Omnova Decorative Products (Shanghai), formerly CG-Omnova Decorative Products (Shanghai) Co. Ltd.; and Omnova Decorative Products (Taicang), formerly known as Beston Omnova Plastics (Taicang) Co. Ltd., are both China-based producers of coated polyurethane and vinyl upholstery for regional upholstery, consumer garment and accessories markets, and Chinese automotive original equipment manufacturers. These companies also have expanded their focus on North American contract and residential furniture markets and the automotive aftermarket.

“Omnova’s investment to acquire full ownership of our Asian [joint venture] businesses is a key part of our globalization strategy and demonstrates our long-term commitment to the large and rapidly growing Asian markets,” said Kevin McMullen, chairman and CEO, Omnova Solutions. “It allows us to more aggressively participate in the tremendous expansion underway in the region with innovative technology and products. In addition, it puts us in a better position to follow global customers who have moved manufacturing to Asia and are looking for high quality local sourcing.”

January 23, 2008