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SOLVAY (Belgium) and SUBANSAMBLE (Romania) Create a Joint Venture

24 May 1999

SOLVAY (Belgium) and SUBANSAMBLE (Romania) Create a Joint Venture, Solvay Automotive Romania, for Plastic Automotive Fuel Systems

    TROY, Mich., May 21 -- The SOLVAY Group (Belgium) and
SUBANSAMBLE (Romania) have signed an agreement for the creation of a joint
venture in Romania, SOLVAY AUTOMOTIVE ROMANIA.  This company will produce and
market plastic fuel systems and blow-molded parts for the automotive industry.
SOLVAY will take 51% of the joint venture, while SUBANSAMBLE will own the
remaining 49 percent.
    SOLVAY AUTOMOTIVE ROMANIA will be the only producer of plastic fuel
systems in Romania, and will supply the country's vehicle (cars, trucks and
tractors) manufacturers.
    The Romanian vehicles market is expected to double by 2003.  Moreover --
and this will have a positive effect on the growth for the joint venture -- a
big change is taking place on the Romanian market of fuel tanks since metallic
fuel tanks are being replaced by plastic fuel tanks.
    The creation of SOLVAY AUTOMOTIVE ROMANIA strengthens the position of
SOLVAY as a leading supplier of the automotive industry and is in line with
its strategy for globalization of services to the automotive industry.  In the
past few years, forging ahead with a strategy of accompanying the car
manufacturers, the Group started up new production plants in most European
countries, the United States and Argentina.  In July 1998, it created a joint
venture called PLASTAUTO with Plastic Omnium in Brazil.  More recently, it
created two new subsidiaries: SOLVAY AUTOMOTIVE ASIA K.K. in Japan and SOLVAY
AUTOMOTIVE POLSKA in Poland.
    SUBANSAMBLE is the leading automotive components supplier in Romania.
    SOLVAY is the world leader for the production of high-density polyethylene
fuel tanks.  In 1998, sales recorded by SOLVAY's Automotive Strategic Business
Unit were about EUR 560 million (USD 650 million).
    The SOLVAY GROUP, which includes SOLVAY AUTOMOTIVE, is an international
chemical and pharmaceutical group based in Brussels (Belgium).  SOLVAY GROUP
companies employ 34,000 people in 46 countries.  The Group's 1998 annual sales
were (USD) 9.6 billion, generated by its market leading activities in each
of its four sectors of activity: chemicals, plastics, processing and
pharmaceuticals.