COVINGTON, Kentucky, September 24 /PRNewswire/ --

- Syrgis Adds Worldwide Chemical Company and No. 1 Producer in North
America

Syrgis Performance Products formally announced today the acquisition of
the organic peroxides business from Norac, Inc., a worldwide specialty
chemical company that brings more than US$50 million in annual revenue to the
Syrgis group. The new organic peroxides company name is Syrgis Performance
Initiators.

In addition to manufacturing and distribution facilities in Sweden and
Helena, Ark., Syrgis acquires the considerable technical, sales, and
manufacturing staff, support and services with the purchase.

"Norac is a great cultural fit with us. As with all our companies, Norac
will remain pure in what it does, while preserving its entrepreneurial
spirit, high-quality products, exceptional customer service and technical
support," said Syrgis Performance Products CEO Andy Harris. "Syrgis' strategy
is to 'invest and grow' with our businesses, allowing them to be autonomous
and build on their strengths, while supported with significant financial
backing, consolidated R&D and top-tier marketing."

A leader in its respective markets, the Norac business unit is the number
one producer of methyl ethyl ketone peroxides in North America, and ranked
third in the world in organic peroxides for plastics and reinforced thermoset
composites. A family-run business founded in 1953, the manufacturer produces
chemicals that, when used in the making of reinforced and cast polymers,
helps them set at room temperature while enhancing their durability.

Ultimately, the organic peroxide formulations, like many Syrgis products,
find their way into a wide range of consumer and industrial goods including
showers, boats, plastic pipes, wind energy turbine blades, truck bed liners
and mine bolts. The market for composites with this kind of versatility,
ambient temperature curing, and considerable durability exhibits sustained
growth.

Benny Fahrman, Managing Director, Europe, sees the acquisition as a
classic win-win for both companies. "Syrgis will help further the organic
peroxide business on a global basis. Our relationship will give us the
ability to strengthen opportunities worldwide. We see our business moving to
servicing and supporting larger, more global customers. We look forward to
working closely with Syrgis to create a cohesive global presence," he said.

The purchase of the Norac business unit is consistent with Syrgis'
strategy of pursuing niche market leaders in the specialty and performance
chemical segments. Harris views Norac's consistent track record of producing
quality products combined with a world-leading reputation for exceptional
customer application support as considerable assets.

Intent on preserving the expertise, custom application know-how and
valuable relationships within Norac and its business network, Syrgis has no
layoffs or reorganization scheduled.

"We're building a family of entrepreneurs focused on great customer
service with niche technical expertise for the best overall customer value.
Syrgis offers a flexible business environment that nurtures companies such as
Norac, so they can grow beyond their potential. Through this transition, it's
"business as usual," with minimal distractions to the current organization,
processes and business systems. We are committed to maintaining our unique
technical differentiation and focus on the customer - a move that separates
us from most competitors," Harris said.

With the acquisition of the organic peroxides line comes an extensive and
seasoned distribution network comprised of leading companies such as
Composites 1, North American Composites, and Ashland Distribution.

"Syrgis' philosophy involves a solid commitment to its distribution
network, and we consider that a strong positive as Norac has built great
relationships with top distributors and leading resin suppliers throughout
the world," said Douglas Hubbard, Business Manager for North America. "The
Syrgis group will allow us to further expand and share our distribution
network across the globe, bringing even more growth potential."

About Syrgis Performance Products

Syrgis Performance Products is an international diversified group of fine
and specialty chemical manufacturers. Headquartered in Covington, Ky., Syrgis
is a suite of companies that includes Lycus, Ltd., H&S Chemical Co., Inc.,
and P Chem, Inc. as well as newly acquired Syrgis Performance Initiators,
Inc. - all worldwide leaders in their respective niche markets today. Syrgis
companies deliver high-quality products that meet the exacting standards of
leading chemical solution providers in the agriculture, composites, cosmetic,
electronics, fish and wildlife, mining, oil and gas, paints and coatings,
pharmaceutical, plastics, semiconductor, and renewable energy industries.
With strong backing from Cleveland Ohio-based Edgewater Capital Partners,
Syrgis is dedicated to delivering the high-performance products its customers
need, supported by exceptional customer service and technical application
expertise. To learn more, please visit http://www.syrgis.com.

Web site: http://www.syrgis.com