German thermosetting resins producer Bakelite AG (D-58609 Iserlohn; www.bakelite.de) plans to acquire the German phenolic resins business of Finland´s Dynea Oy (FIN-00170 Helsinki; www.dynea.com), subject to approval by regulatory authorities. The plant with annual sales of EUR 5m produces binders for particle board and abrasive agents. It also has a long-standing toll manufacturing agreement with Sasol Germany GmbH (D-47443 Moers; www.sasol.de), which will be continued.

Dynea was created last spring in the merger of Finland´s Neste Chemicals and the chemicals activities of Norway´s Dyno instigated by their joint owner Industri Kapital. The German plant is being sold to comply with cartel restrictions related to the parent company´s acquisition of Perstorp AB (S-28480 Perstorp; www.perstorp.se). Bakelite, subsidiary of the Rütgers group (D-45128 Essen; www.ruetgers.de) sees the acquisition as a further step toward European market leadership in phenolic resins.