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Permatex, Inc. Acquires International Business

9 January 2001

Permatex, Inc. Acquires International Business

    HARTFORD, Conn., Jan. 9 Permatex, Inc., a leading
automotive products manufacturer and marketer, has purchased the worldwide
rights to the Permatex(R) brand and related businesses from Loctite
Corporation.  Permatex previously held rights for the business in North
America.  Terms of the agreement were not announced.
    "This action opens up an incredible number of markets for our top-quality
high performance products," said Permatex President Pat Formica.  Although
Permatex has long had a presence in Asia, Africa, Europe, Central America,
South America and the Middle East, Formica said, the international business
has lacked a dedicated automotive focus for nearly two years.
    Permatex intends to revive international demand by introducing new
products and launching innovative promotions. "There hasn't been a single
overseas promotion or new-product introduction under the Permatex banner since
1998," Formica said.  "That's about to change big-time."
    "We will work to assure that we have the right products and programs in
place in many new regions of the world," said Greg Mostoller, business manager
for international marketing for Permatex.  "Having received rights to sell our
products globally, Permatex will be ready to supply the right products,
promotions and support materials in the appropriate languages."
    International customers, distributors and retailers interested in Permatex
products should contact Permatex at:  international@permatex.com , or write or
fax to:  Greg Mostoller, Permatex, Inc., 10 Columbus Blvd., Hartford, CT
06106, USA, fax:  860-543-6997.
    "New international enterprises are expected to add about $5 million to our
revenues in 2001, mainly from the acquisitions we finalized last year,"
Formica said.  "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."
    Formica added that Permatex in 2000 completed an important domestic
acquisition -- 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," he said.
    Permatex markets and sells leading automotive repair and consumer products
under a variety of well-recognized brand names such as Permatex(R), Right-
Stuff(R), Fast Orange(R), No Touch(R) and NOS(R).