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Wacker Chemie AG

WACKER to acquire Air Products' stake in construction polymers joint ventures

Munich / Lehigh Valley (PA) (euro adhoc) -

- Integrated value chain further strengthened - Increase in polymer 
sales to approx. € 1 billion in 2008 - “Another logical step in the 
Group’s growth strategy,” says WACKER CEO
  ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for
  the content of this announcement.
companies
December 11, 2007 - Wacker
Chemie AG plans to acquire full ownership of Air Products Polymers 
(APP) and Wacker Polymer Systems (WPS), its two joint ventures with 
Air Products and Chemicals, Inc. The two partners today announced 
they have signed an agreement to this effect. As the world's leading 
supplier of dispersible polymer powders for construction 
applications, WACKER expects that the acquisition will provide 
strategic advantages to its global construction-polymers business. 
Benefits include synergies and cost advantages stemming from backward
integration at U.S. and Asian dispersion plants, as well as the 
expansion of its supply chain outside the eurozone.
The closing of the transaction, which is subject to approval by the 
relevant antitrust authorities, is expected in Q1 2008. As part of 
the agreement, WACKER retains the Vinyl Acetate Ethylene (VAE) 
activities of the Joint Venture, while Air Products will receive full
ownership in the Elkton, Md., and Piedmont, S.C., production 
facilities and their related businesses plus cash considerations of 
USD 265 million. With approval, the transaction would contribute 
substantially to further develop WACKER´s polymer business to around 
EUR1 billion in sales in 2008.
Air Products issued a formal statement back in March 2006, announcing
its intention to sell its APP and WPS shareholdings. Currently, 
WACKER owns 35 percent and Air Products 65 percent of APP. As for 
WPS, WACKER holds 80 percent and Air Products, 20 percent.
The planned acquisition focuses on the activities of APP and WPS in 
vinyl acetate ethylene-based dispersions and dispersible polymer 
powders. Consequently, WACKER plans to acquire all of the two 
companies´ related activities at their APP and WPS sites in Allentown
(PA, USA), Calvert City (KY, USA), Cologne and Burghausen (Germany), 
South Brunswick (NJ, USA) and Ulsan (Korea). WACKER intends to 
continue operating this business out of the Lehigh Valley. The Elkton
(MD, USA) and Piedmont (SC, USA) sites and the associated businesses 
will become fully owned by Air Products.
Wacker Chemie AG´s CEO, Peter-Alexander Wacker, saw the acquisition 
as another logical step in the Group´s growth strategy. "WACKER and 
Air Products have worked together for over 20 years successfully 
developing the polymers market. This is a very capable and 
knowledgeable team," he said. "Our agreement will give WACKER fully 
integrated production sites in the USA and Asia. The economies of 
scale and synergies resulting from this extension of our value chain 
will bring us cost advantages. By boosting WACKER´s polymer sales, 
the agreement reinforces the balance of our entire business 
portfolio. We will push ahead now with APP´s and WPS´s integration 
into WACKER Group."
Air Products´ President and CEO, John McGlade, said: "Air Products 
and WACKER are looking back to a decades-long successful partnership 
in polymer business. They recognize the strategic value of the 
business, its high quality assets and its outstanding team of 
employees."
APP and WPS in Brief Air Products Polymers (APP) produces polymer 
dispersions at sites in Germany, South Korea and the USA. It sells 
its products under the Airflex®, Vinac®, Flexbond® and Flexcryl® 
trademarks to industries ranging from adhesives, nonwovens, paints 
and coatings, to building products, paper, carpet and textiles. 
Wacker Polymer Systems (WPS) is responsible for VINNAPAS® dispersible
polymer powders, VINNAPAS® solid resins, PIOLOFORM® B, VINNOL® 
surface-coating resins, VINNEX® binder systems and VINNAPAS® 
dispersions for construction applications. WPS operates production 
facilities in Germany, China and the USA.
Air Products in Brief Air Products (NYSE: APD) serves customers in 
industrial, energy, technology and healthcare markets worldwide with 
a unique portfolio of atmospheric gases, process and specialty gases,
performance materials, and equipment and services. Founded in 1940, 
Air Products has built leading positions in key growth markets such 
as semiconductor materials, refinery hydrogen, home healthcare 
services, natural gas liquefaction, and advanced coatings and 
adhesives. The company is recognized for its innovative culture, 
operational excellence and commitment to safety and the environment. 
Air Products has annual revenues of $10 billion, operations in over 
40 countries, and 22,000 employees around the globe. For more 
information, visit www.airproducts.com.
WACKER in Brief WACKER (www.wacker.com) is a globally active chemical
company headquartered in Munich. With a wide range of 
state-of-the-art specialty products, WACKER is a leader in numerous 
industrial sectors. Its products are required in countless 
high-growth end-user sectors such as photovoltaics, electronics, 
pharmaceuticals and household/personal care. WACKER POLYMERS is 
currently the global leader in dispersible polymer powders for 
construction applications. In 2006, the WACKER Group posted sales of 
some EUR3.34 billion, with approx. 80 percent being earned outside 
Germany. WACKER currently employs about 14,700 persons at 22 
production sites in Europe, the Americas and Asia and in some 100 
sales offices worldwide. Wacker Chemie AG is listed on the Frankfurt 
(Germany) Stock Exchange (ISIN: DE000WCH8881).
This press release contains forward-looking statements based on 
assumptions and estimates of the executive boards of WACKER and Air 
Products. Although we assume the expectations in these 
forward-looking statements are realistic, we cannot guarantee they 
will prove to be correct. The assumptions may harbor risks and 
uncertainties that may cause the actual figures to differ 
considerably from the forward-looking statements. Factors that may 
cause such discrepancies include, among other things, changes in the 
economic and business environment, variations in exchange and 
interest rates, the introduction of competing products, lack of 
acceptance for new products or services, and changes in corporate 
strategy. WACKER and / or Air Products do not plan to update the 
forward-looking statements, nor do they assume the obligation to do 
so.
end of announcement                               euro adhoc 11.12.2007 06:59:14

Further inquiry note:

Wacker Chemie AG
Corporate Communications
Christof Bachmair
Tel.: +49 (0) 89 6279-1830
E-Mail: christof.bachmair@wacker.com

Air Products and Chemicals, Inc.
Corporate Communications
Robert F. Brown
Tel. +1 610-481-1192
E-Mail: brownrf@airproducts.com

Branche: Chemicals
ISIN: DE000WCH8881
WKN: WCH888
Index: CDAX, Classic All Share, HDAX, MDAX, Midcap Market Index,
Prime All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard

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