GEO Specialty Chemicals, Inc., Exits Paper Chemicals Business

ONDEO Nalco Expands Paper Capabilities



Apr 19, 2001, 01:00 ET from GEO Specialty Chemicals, Inc.

    CLEVELAND, April 19 /PRNewswire/ -- GEO Specialty Chemicals, Inc., and
 ONDEO Nalco Company today announced the sale of GEO's Paper Chemicals business
 to ONDEO Nalco, a subsidiary of Suez, for an undisclosed price.  GEO will
 retain all of its manufacturing facilities.  Its Harrison, NJ, facility will
 supply ONDEO Nalco paper coating products under a long-term supply agreement.
     A GEO officer states that the business was no longer core to its strategic
 interests.  GEO acquired the business from Henkel in a transaction in 1997.
     Among other things, the business provides ONDEO Nalco with a broad range
 of products and applications for the coatings kitchen in the paper mill.
     "ONDEO Nalco has always been a leader in paper chemical technologies.  We
 recognized that GEO's outstanding manufacturing reputation and expertise
 within the paper chemicals industry would make a great addition to our
 business," said Dave Johnson, General Manager of Pulp and Paper for ONDEO
 Nalco in North America.  "This acquisition allows us to expand our offerings,
 bring talented individuals into our organization, and offer greater levels of
 service and more varied solutions to our customers?"
     Separately, GEO's Performance Group supplies aluminum flocculants and
 coagulants for many applications including paper mill, industrial, and
 sanitary water treatment operations.  This segment of GEO's portfolio is not a
 part of the ONDEO Nalco transaction and will not be affected by this sale.
     GEO Specialty Chemicals is a global manufacturer of specialty chemicals
 serving the water treatment, coatings, construction, optoelectronics, and
 compound semiconductor industries.  GEO has fifteen plants in the USA and two
 plants in Europe.
     ONDEO Nalco is the worldwide leader in water treatment and process
 chemicals with annual revenues of $2.4 billion.  ONDEO Nalco's 4,500 technical
 service representatives work with more than 60,000 customers in 120 countries
 in industry, government, and institutions to solve and prevent problems,
 protect the environment, decrease costs, and increase productivity and
 profitability.  ONDEO Nalco's mission is to serve industries where water,
 energy, and efficiency are of primary importance.
 
     Statement Regarding Forward-Looking Statements
     Some of the statements made in this press release, including statements
 containing the words "believes," "intends," "expects," "plans," "estimates,"
 "will" or similar words, constitute forward-looking statements under the
 federal securities laws. These forward-looking statements involve known and
 unknown risks, uncertainties and other factors that may cause the actual
 results, performance or achievements of GEO or its industry to be materially
 different from any future results, performance or achievements expressed or
 implied by such forward-looking statements. Some of the factors that could
 cause or contribute to such a difference include: (a) changes in general
 economic conditions that might impact the demand for GEO's products, in the
 United States or in the foreign countries where GEO sells products; (b)
 decreases in customer spending levels due to general economic conditions or
 other factors affecting the volume of business of GEO's customers; (c) the
 increased risk during economic downturns that GEO's customers may declare
 bankruptcy or experience payment difficulties; (d) increases in GEO's cost of
 borrowing or a default or covenant violation under GEO's indenture or other
 material debt agreement; (e) GEO's inability to effectively integrate acquired
 businesses or efficiently expand operations, or its incurrence of greater than
 expected expenses in connection with operating acquired businesses or
 expanding operations; and (f) changes in environmental or other governmental
 regulations or enforcement.
 
 

SOURCE GEO Specialty Chemicals, Inc.
    CLEVELAND, April 19 /PRNewswire/ -- GEO Specialty Chemicals, Inc., and
 ONDEO Nalco Company today announced the sale of GEO's Paper Chemicals business
 to ONDEO Nalco, a subsidiary of Suez, for an undisclosed price.  GEO will
 retain all of its manufacturing facilities.  Its Harrison, NJ, facility will
 supply ONDEO Nalco paper coating products under a long-term supply agreement.
     A GEO officer states that the business was no longer core to its strategic
 interests.  GEO acquired the business from Henkel in a transaction in 1997.
     Among other things, the business provides ONDEO Nalco with a broad range
 of products and applications for the coatings kitchen in the paper mill.
     "ONDEO Nalco has always been a leader in paper chemical technologies.  We
 recognized that GEO's outstanding manufacturing reputation and expertise
 within the paper chemicals industry would make a great addition to our
 business," said Dave Johnson, General Manager of Pulp and Paper for ONDEO
 Nalco in North America.  "This acquisition allows us to expand our offerings,
 bring talented individuals into our organization, and offer greater levels of
 service and more varied solutions to our customers?"
     Separately, GEO's Performance Group supplies aluminum flocculants and
 coagulants for many applications including paper mill, industrial, and
 sanitary water treatment operations.  This segment of GEO's portfolio is not a
 part of the ONDEO Nalco transaction and will not be affected by this sale.
     GEO Specialty Chemicals is a global manufacturer of specialty chemicals
 serving the water treatment, coatings, construction, optoelectronics, and
 compound semiconductor industries.  GEO has fifteen plants in the USA and two
 plants in Europe.
     ONDEO Nalco is the worldwide leader in water treatment and process
 chemicals with annual revenues of $2.4 billion.  ONDEO Nalco's 4,500 technical
 service representatives work with more than 60,000 customers in 120 countries
 in industry, government, and institutions to solve and prevent problems,
 protect the environment, decrease costs, and increase productivity and
 profitability.  ONDEO Nalco's mission is to serve industries where water,
 energy, and efficiency are of primary importance.
 
     Statement Regarding Forward-Looking Statements
     Some of the statements made in this press release, including statements
 containing the words "believes," "intends," "expects," "plans," "estimates,"
 "will" or similar words, constitute forward-looking statements under the
 federal securities laws. These forward-looking statements involve known and
 unknown risks, uncertainties and other factors that may cause the actual
 results, performance or achievements of GEO or its industry to be materially
 different from any future results, performance or achievements expressed or
 implied by such forward-looking statements. Some of the factors that could
 cause or contribute to such a difference include: (a) changes in general
 economic conditions that might impact the demand for GEO's products, in the
 United States or in the foreign countries where GEO sells products; (b)
 decreases in customer spending levels due to general economic conditions or
 other factors affecting the volume of business of GEO's customers; (c) the
 increased risk during economic downturns that GEO's customers may declare
 bankruptcy or experience payment difficulties; (d) increases in GEO's cost of
 borrowing or a default or covenant violation under GEO's indenture or other
 material debt agreement; (e) GEO's inability to effectively integrate acquired
 businesses or efficiently expand operations, or its incurrence of greater than
 expected expenses in connection with operating acquired businesses or
 expanding operations; and (f) changes in environmental or other governmental
 regulations or enforcement.
 
 SOURCE  GEO Specialty Chemicals, Inc.