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Elementis PLC (ELM)

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Monday 28 April, 2008

Elementis PLC


Elementis PLC
28 April 2008

Elementis - Acquisition of Deuchem Co., Ltd.

Elementis plc today announces that it has agreed, through its wholly owned
subsidiary Elementis Holdings Limited, to purchase Deuchem Co., Ltd.
('Deuchem'), a Taiwan based company, for a cash consideration of £40.4 million
(TW$ 2,464 million).

Deuchem was established in 1978 and is a leading supplier of additives and
resins to the coating and related industries, with three sales offices in 
Taiwan and eleven sales offices in China, together with manufacturing and 
technical facilities near Taipei and in Shanghai. The acquisition of Deuchem
will significantly expand Elementis' presence in Asia and provide a platform 
for its Specialty Products Division to accelerate growth in the region. 
In 2007, Deuchem's revenue grew by approximately 6.5 per cent, which is 
consistent with the Elementis 2007 Asia Pacific performance. Further growth 
in the combined businesses will be driven by the sale of Deuchem's product 
portfolio to the Elementis global customer base, as well as the opportunity
to sell Elementis products through the well developed Deuchem sales and 
technical support network in China and Taiwan.

The transaction is subject to regulatory approvals and the purchase price
assumes that Deuchem will have debt of up to £1.3 million at closing. Closing
is anticipated to take place during the second half of 2008 and the 
transaction is expected to be earnings enhancing for Elementis in the first 
full year of ownership.

Greg McClatchy, president of Elementis Specialties, will head the combined

Deuchem's audited results for the year to December 31, 2007 are as follows:

Sales                  £37.9 m
Profit before tax      £ 5.1 m
Profit after tax       £ 3.6 m
EBITDA                 £ 5.7 m

Gross assets           £36.1 m

David Dutro, Elementis' Chief Executive Officer, said 'This acquisition
represents a significant step in the evolution of Elementis and our commitment
to profitable growth in Specialties. Deuchem has established an impressive
reputation over the past thirty years for technical service and product
development, and is therefore an excellent fit with our Specialty Products
Division. Listening to customers' needs and working to meet them is a 
philosophy that Deuchem and Elementis share. Deuchem has a strong presence
in Asia in terms of its commercial team, technical organization, and 
manufacturing group, and when combined with the Elementis infrastructure 
provides an enviable platform to drive growth. Deuchem's complementary product
portfolio, customer service culture, and the opportunity to leverage combined 
technologies globally gives us confidence that this acquisition will create 
shareholder value.'


1) Elementis is acquiring Deuchem from Antony Chang (Chairman and CEO of
Deuchem), who is the largest shareholder, and from four other directors as well
as a number of other private shareholders, including employees who will remain
in the business.
2) Deuchem's senior management, with the exception of Antony Chang, is expected
to be retained.
3) Exchange rate used: £1 = TW$ 61.


Elementis plc                                   Tel: +44 (0)20 7408 9302
David Dutro, Group Chief Executive
Brian Taylorson, Finance Director

Financial Dynamics                              Tel: +44 (0)20 7831 3113
Andrew Dowler
Greg Quine

                      This information is provided by RNS
            The company news service from the London Stock Exchange                           

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