News Release

Goldschmidt Industrial Chemical Corporation Announces Name Change to Reaxis Inc.

MCDONALD, PA - (March 10, 2008) – Goldschmidt Industrial Chemical Corporation, formerly a subsidiary of Degussa AG, now Evonik, recently announced a company name change to Reaxis Inc., effective March 10, 2008.  Several senior level managers acquired the industrial chemicals division of Evonik in a Management Buy Out (MBO).  

“This strategic acquisition strengthens the flexibility of our manufacturing processes, provides the opportunity for continued enhancement of innovation toward new product development, and allows us to continue offering excellent customer service with high quality products and technical support,” said Marco R. van der Poel, President of Reaxis Inc.

Reaxis has a rich history dating back to 1935 with the incorporation of Pitt Metals. The company manufactured inorganic tin compounds in the 1970s.  In 1993 the company became Goldschmidt Industrial Chemical Corporation with the sale of Pitt Metals to Th. Goldschmidt, AG which was subsequently acquired by Evonik. As of December 2006, Reaxis became an independent company.

Headquartered in McDonald, PA, Reaxis manufactures an extensive range of catalysts that are used in the processing and production of a number of key products including polymers (resins), coatings, elastomers, adhesives and sealants and oleochemicals. They also manufacture a line of chemicals used in a variety of surface finishing applications. Reaxis has renamed its well-known TEGOKAT^® product line REAXIS™.

Reaxis has a broad and extensive selection of metal-and acid-based catalyst chemistries. Their expertise has enabled them to create products that work effectively in many unique, essential applications.  Supported by their manufacturing expertise, R&D capabilities, global supply chain, technical service, and attention to customer service, Reaxis provides superior quality and value-added products to their customers.

For information, please call 1-800-426-7273 or visit the company website at www.reaxis.com

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