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RNS Number:8191L
Perstorp AB
7 June 2000


PERSTORP EXPANDS ITS POSITIONS IN THE PHENOLIC RESINS BUSINESS


An agreement has been signed between Perstorp AB, Sweden, (through its
subsidiary Perstorp Chemitec) and Penn Specialty Chemicals Inc of the United
States whereby Perstorp has acquired two product lines in the area of phenolic
resins from Penn Speciality Chemicals. Present annual sales of the product lines
exceed US $4 Million.

Under the terms of the agreement, Penn Specialty Chemicals will transfer to
Perstorp the technology and trademarks of the Furcarb and Farez product lines.

Furcarb is a phenolic resin based product used in the refractory industry and in
particular for the production of dolomite bricks. Farez is a resin based
material used primarily in the production of glass wool insulation products.
Perstorp is one of Europe's leading suppliers of phenolic resins and the
acquisition of the two product lines will strengthen Perstorp's position in both
segments of the phenolic resin business,

Perstorp and Penn Specialty Chemicals have had a long previous association, with
Perstorp, having been both a supplier of a key raw material used in the
manufacture of Furcarb and latterly the products' toll manufacturer.

Perstorp Chemicals is part of the Perstorp Group and has annual sales of
slightly more than SEK 4.5 billion. The division conducts manufacturing
operations in several European countries and in the US, South America and Asia.
Operations focus on high-value specialized chemicals products for industrial
customers and Perstorp has strong global positions in the market for polyols.
During 1999, the Perstorp Group had sales of slightly more than SEK 10 billion,
with some 6,000 employees and manufacturing operations in 15 countries.

For more information please contact Dr John Machin, Perstorp Chemitec Resins
(phone +44 1325 300666 and fax +44 1325 303213).

June 7, 2000
Perstorp AB
Corporate Communications

Perstorp AB             Address             Telephone        Telefax
Public company (pub),   SE-284 80 Perstorp  +46 435 380 00   +46 435 381 00
Corporate identity no.  Sweden                              
556024-6513
Domicile: Perstorp Sweden        www.perstorp.com


END





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