The company NEOCHIMIKI L.V. LAVRENTIADIS S.A. announces that it proceeded, through its subsidiaries, to the 100% acquisition of the company NOVION S.A. (former Celanese), which has privately-owned facilities in Vathi, Avlida (former facilities of CLARIANT HELLAS S.A.) and produces emulsions and chemical raw materials for the paints & lacquer industry, as well as glue products. Furthermore, NEOCHIMIKI Group of companies obtains: a Distribution License of Celanese products for Greece, Cyprus and the Balkans and a Constant Flow of Know-How License with the right to produce Celanese GmbH products for Greece, Cyprus and the Balkans.

The acquisition of NOVION S.A. (former Celanese), falls into the wider growth plan of the Group through the expansion of its production activities in the field of paints, lacquer and glue products, thus strengthening its leading position in the production and distribution of chemical raw materials in Greece and in the Eastern European countries.

Therefore, within the framework of materializing its strategic goals, NEOCHIMIKI Group of Companies, which is active in five main SBUs:
production of detergents,
production and distribution of raw materials for the paints and lacquer industry
production and distribution of cosmetics,
distribution of agrochemical products and
distribution of polymers for the plastics industry,

aims at succeeding even higher growth rates. More specifically, for the year 2006 consolidated sales will be over 200 M. euro and the earnings before tax will be over 19 M. euro.

On 23.02.2006, NEOCHIMIKI L.V. LAVRENTIADIS S.A. will publish its FY 2005 financial statements and will disclose its provisions which are revised positively for the year 2006.