Global Paint Company Chemspec acquires Montana Products, Inc.

For Immediate Release:
June 15, 2007

Contact:
Tammy Anderson
Marketing Communications Manager
Chemspec U.S.A. / Montana Products, Inc.
9287 Smucker Road
Orrville, Ohio 44667
Telephone:  (800) 328-4892, ext. 2356
Fax:  (330) 669-3965
E-mail:  tammy.anderson@montanabigsky.com
URL: www.chemspec.co.za • www.montanabigsky.com

ORRVILLE, OH – June 14, 2007 – Chemspec, one of the largest paint companies in South Africa, announces the acquisition of Ohio paint manufacturer, Montana Products, Inc. Chemspec, who celebrates their fiftieth anniversary this year, has been on an aggressive global expansion drive in recent years.  This goal continues with the just announced purchase of the Montana Products manufacturing facility in Ohio, U.S.A. 

This facility will manufacture the Metalux2™ and Metalux CV™ ranges of automotive products, and fulfills Chemspec’s strategy of increasing their manufacturing resources in the northern hemisphere. The world-class facility also boasts sophisticated R&D capabilities to complement the group’s strategy of continual innovation. Montana’s existing infrastructure and sales force will also provide a significant asset to the infiltration of the Metalux™ lines in the U.S. market.

Montana’s existing line of automotive refinish products will continue to be offered with new exciting and innovative products to be added.  Chemspec CEO, Strath Wood, speaks candidly about the acquisition, “The purchase of the American facility brings us one step closer to realizing our goal of being a truly global paint company.  The U.S.A. plant will service our rapidly expanding markets in this region – the Metalux™ ranges are already making inroads into the American, Canadian, Mexican and Puerto Rican markets, where our quality and value propositions are making a difference to bodyshop profitability.”

Wood further states, “Although South Africa will always provide a stable base for the Chemspec group, our export markets represent a $250 Billion opportunity for our lines. The introduction of the Montana Products business to the group will add significant emphasis to our U.S. market penetration, as well as our technical prowess and product innovation. Expect many great new products in the future.”