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Permatex Inc. Significantly Expands International Presence by Acquiring Global Permatex Brands From Loctite

4 January 2001

Permatex Inc. Significantly Expands International Presence by Acquiring Global Permatex Brands From Loctite

    HARTFORD, Conn.--Jan. 4, 2001--Permatex Inc. announced today it has substantially expanded its international activities with the acquisition of the global Permatex trademark and brands and related products from Loctite Corporation. Terms were undisclosed.
    The company acquired Loctite's North American automotive aftermarket business in August 1999, and purchased the latter's Mexican hardware business in August 2000.
    "New international enterprises are expected to add about $5 million to our revenues in 2001, mainly from the acquisitions we finalized last year," said Permatex President Pat Formica. "The purchase of global rights to the Permatex brands plus several other acquisitions under discussion are projected to expand our international sales base to $25 million or more within five years."
    Mr. Formica added that the company completed an important domestic acquisition in 2000 -- No Touch North America, a high-value-added producer of tire and wheel care products with revenues of approximately $10 million. The company also acquired marketing rights to Nitrous Oxide Systems' (NOS) fuel and fluid additive and treatment product lines, and the Slik-Pak(R) brand of lubricants. "Acquisitions and the successful introduction of more than 50 new products and line extensions during the first nine months of last year resulted in Permatex achieving record revenues in 2000," Mr. Formica noted.
    "The Permatex story is even more remarkable, compared with the lackluster performance of the automotive aftermarket industry in 2000," said Mr. Formica. "We have every reason to be excited about our prospects in 2001."
    Permatex is a leading developer, marketer and manufacturer of automotive repair and consumer products under a variety of well-recognized brand names such as Permatex(R), The Right Stuff(R), Fast Orange(R), No Touch(R), Slik-Pak(R) and NOS(R). The company is owned by private equity and debt investors, Automotive Performance Group (RACG), a publicly traded corporation, and its management.