June 24, 2003

ATP.TO + ATX.TO Reuters reports that Vancouver based Acetex Corp. said on Monday it plans to buy Brampton based AT Plastics Inc in a friendly $200-million Cdn ($147 million US) deal that is aimed at boosting the merged company's position in the chemical industry. Cost savings by refinancing or eliminating AT Plastics’ heavy debt – a legacy of its beginnings as a management led buyout of ICI (former CIL) Canada’s plastics division will help increase profits. Acetex has operations mainly in Europe, producing chemicals used in the automotive, construction, packaging and pharmaceutical industries. AT Plastics has a plant in Edmonton and mainly sells in Canada, the United States and Asia. It makes specialty resins and compounds used to manufacture plastic packaging, laminated products, auto parts, adhesives and medical supplies. The Toronto Star and Edmonton Journal have more details. 10:32:49 PM