Eastern European Markets
February, 1. 2006

Dynea in new resins joint-venture - Karbodin - in Central Russia

Dynea Oy (Finland), ZAO MetaDynea (Russia) and JSC Karbolit (Russia) will build a state-of-the-art resin plant at Karbolit's production site in Orekhovo-Zuevo in the Moscow region. The new company, OOO Karbodin will ensure the availability of high quality resins in the central region of Russia.

Karbodin, founded in December 2005, will have an annual production capacity of 400,000 tonnes adhesive resins. A modern formalin production unit will have a 200,000 tonnes production capacity per year. The investment cost is EUR 20 million and the company turn-over is expected to reach EUR 100 million by 2010.

The range of products at the Karbodin plant will include industrial resins for insulation wool and other industrial uses, amino resins for the production of wood-based panels, and impregnation resins.

Karbodin will utilize Dynea's leading technology for the production of the resins. These products will be marketed under the well-known global trade mark Prefere® and will satisfy high European quality standards, environmental compatibility and safety requirements. The first stages of production start up later in 2006 and the plant will be fully functional by the end of 2007.

"Dynea is pleased to participate in serving the growing and rapidly developing Russian markets," says Mr. Roger Carlstedt, CEO and President of Dynea Oy. "All Dynea resources are available to support this new joint-venture - just as we have supported the success of MetaDynea in Gubakha."

"This project reinforces MetaDynea's activities in Russia. As of April 2006 Karbodin will offer our customers in the Central and North West regions the same high quality resins locally produced as MetaDynea is offering in the Ural region today," says General Director of MetaDynea and Karbodin, Mr Dmitriy Shadrin.

About Dynea:
Dynea is a leading provider of global adhesion and surfacing solutions. Dynea resins are used in a variety of applications by the panel board industry, laminated beam and structural wood manufacturers, the mineral and glass-fibre industry, the paper impregnating industry, as well as a wide range of other industries. The company offers a wide range of paper overlays for industrial and decorative applications. Dynea's turn-over is EUR 1,100 million annually. With over fifty production units in twenty-six countries in Europe, the Americas and Asia Pacific, Dynea employs some 2,900 persons.

About MetaDynea:
ZAO MetaDynea is a joint venture of Dynea Oy, Finland and JSC Metafrax, Russia. The company was founded in March 2004. MetaDynea has modern adhesive resins production capacities in Gubakha in the Perm region. The amino resins production line, with a capacity of 180,000 tonnes per year, began operations in 2005. A new industrial resins production line with an annual capacity of 40,000 tonnes will start up shortly.

Karbolit in brief:
JSC Karbolit is a major Russian producer of resins. The invention of a synthetic polymer "karbolit" in 1914 in Russia was the basis for the foundation of the first Russian chemical company producing plastics. Karbolit was registered as an industrial plant of the Commerce Ministry of the Russian Empirein 1916, nationalized in 1919, and privatized in 1992. Karbolit produces a wide range of resins for industrial use. Turn-over from the main production is EUR 30 million per year. The company employs 2,400 persons.

For further information:
Mr. Joni Lukkaroinen
Chairman of the Board of Directors of
ZAO MetaDynea and OOO Karbodin
Tel: +358 10 585 2390
Mob: +358 50 385 2390
Mr. Dmitriy Shadrin
General Director
ZAO MetaDynea and OOO Karbodin
Tel: +7 495 783 00 52/53
Mob: +7 495 998 79 29
Ms Leslie Petersen
General Manager, Communications
Dynea Oy
Tel: +358 10 585 2031
Mob: +358 50 385 2031
Ms Dina Skorospelova
Sales Manager
ZAO MetaDynea
Tel: +7 495 781 00 52(131)
Mob: +7 495 765 48 01

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