CLEVELAND, Sept. 10, 2012 /PRNewswire/ -- OM Group, Inc. (NYSE: OMG) and AkzoNobel have signed an exclusive worldwide distribution agreement for OMG's Borchi® Oxy Cure accelerators. The agreement is limited to the curing of unsaturated polyester and vinylester resins in the composite industry.
"We are extremely excited about our partnership with AkzoNobel," said Mike Stanko, VP & General Manager for OMG's Advanced Organics business. "Their expertise and global distribution network will help us bring the Borchi® Oxy Cure product range to customers in the composite industry. At the same time, it allows us to fully focus on our core markets."
Steve Hunt, sBU Director XTP for AkzoNobel Functional Chemicals, explains, "OMG's Borchi® Oxy Cure products are an important addition to our Nouryact™ Cobalt replacement portfolio. The partnership with OMG perfectly fits our sustainable growth ambitions and strengthens our position as the world's leading supplier of thermoset curing systems."
Borchi® Oxy Cure is an alternative to Cobalt in the curing of unsaturated polyester resins and is based on a patented Iron ligand technology, originally developed by Unilever for detergents and acquired by OMG in 2011 for a range of application areas.
OM GROUP, INC.
OM Group, Inc. is a diversified specialty chemicals and materials company serving attractive global markets. The Company develops, produces and distributes innovative, high-quality chemicals, materials, products and technologies that contribute to customer success by addressing complex applications and demanding requirements. For more information, visit the company's website at www.omgi.com.
AkzoNobel is the largest global paints and coatings company and a major producer of specialty chemicals. We supply industries and consumers worldwide with innovative products and are passionate about developing sustainable answers for our customers. Our portfolio includes well known brands such as Dulux, Sikkens, International and Eka. Headquartered in Amsterdam, the Netherlands, we are a Global Fortune 500 company and are consistently ranked as one of the leaders in the area of sustainability. With operations in more than 80 countries, our 55,000 people around the world are committed to excellence and delivering Tomorrow's Answers Today™.
The foregoing discussion may include forward-looking statements for purposes of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based upon specific assumptions and are subject to uncertainties and factors relating to the company's operations and business environment, all of which are difficult to predict and many of which are beyond the control of the company. These uncertainties and factors could cause actual results of the company to differ materially from those expressed or implied in the forward-looking statements contained in the foregoing discussion. Such uncertainties and factors include: risks arising from uncertainty in worldwide economic conditions; extended business interruption at our facilities; fluctuations in the price and uncertainties in the supply of cobalt, rare earth materials and other raw materials; our ability to identify, complete and integrate acquisitions aligned with our strategy; current circumstances and developments regarding the Democratic Republic of Congo; restrictive covenants in our Senior Secured Credit Facility which may affect our ability to operate our business successfully; indebtedness may impair our ability to operate our business successfully; changes in effective tax rates or adverse outcomes resulting from examination of our income tax returns; the majority of our operations are outside the United States, which subjects us to risks that may adversely affect our operating results; level of returns on pension plan assets and changes in the actuarial assumptions; the majority of our cash is generated and held outside the United States; fluctuations in foreign exchange rates; unanticipated costs or liabilities for compliance with stringent environmental regulation; changes in environmental, health and safety regulatory requirements; technological changes in our industry or in our customers' products; our ability to adequately protect or enforce our intellectual property rights; disruption of our relationship with key customers or any material adverse change in their businesses; and the risk factors set forth in Part 1, Item 1a of our Annual Report on Form 10-K for the year ended December 31, 2011.
SOURCE OM Group, Inc.