Sekisui Chemical Expands Foamed Polyolefin Capabilities

LAWRENCE, MA (December 9, 2002) – Sekisui Chemical Co., LTD, parent company to VOLTEK, Division of Sekisui America Corporation, announced the acquisition of management rights to the largest foamed polyolefin manufacturer in China, Shanghai Holy Plastics, LTD. With production bases in Japan, United States, Europe and Asia, the addition of Shanghai Holy Plastics will heighten the ability of Sekisui Chemical Co., Ltd. to compete on a global scale.

The present demand for foamed polyolefins in the Chinese market is about 3,000 ton a year. However, there is expected to be a significant increase in demand due to progressive entries of automotive companies, China’s participation in the WTO, the Beijing Olympic Games, 2008, and a building boom for the Expo 2010 in Shanghai. Within this growing market, Sekisui Chemical will establish an advantageous position at an early stage, by combining high level technologies and sales know-how.

In addition, Sekisui Chemical will enhance its globally competitive strength by being able to supply customers from many locations worldwide, improving responsiveness to global demand, and offering customers more flexibility in supply.