POLYMERIC MCP-1174 A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS

I. INTRODUCTION, METHODOLOGY & Table 1: Global Consumption by End-Use in PRODUCT DEFINITIONS 2004: Percentage Breakdown for Furniture, Automotive, Construction, Electrical Appliances, Recreational Equipment, Case Applications and Miscellaneous II. EXECUTIVE SUMMARY Applications (includes corresponding Graph/Chart).....II-12 Production Process...... II-12 1. Outlook ...... II-1 Isocyanates...... II-12 2. Product and Market Analyses ...... II-2 Polyols...... II-12 Polyethers ...... II-13 ...... II-2 ...... II-13 Classification...... II-2 MDI: A Key Raw Material...... II-13 ...... II-2 Product Profile ...... II-13 Thermosets...... II-2 Chemical Composition...... II-13 Hybrid ...... II-2 Properties...... II-14 Polymeric Foams...... II-2 Polymeric MDI ...... II-14 Predominant Materials and their Applications...... II-3 Applications of MDI...... II-14 Specialty Foam...... II-3 Market Profile ...... II-15 Polyolefins ...... II-4 Table 2: MDI Capacity Addition in Asia in 2001 by BASF, Overview ...... II-4 BASF/Huntsman, Bayer and Mitsui Takeda (In ‘000 Polyolefin Foams...... II-4 Tons/Year) (includes corresponding Graph/Chart) ...II-15 Cross Linked Poly Olefin Foams (XLPO) ...... II-5 End-Use Applications...... II-5 Dominance by a Few Players...... II-15 Sports ...... II-5 Table 3: Global MDI Producers and their Capacity Appliances...... II-5 in 2001 (In ‘000 Tons/Year) ...... II-15 Construction...... II-5 TDI...... II-16 Marine...... II-6 Medical ...... II-6 Table 4: Major TDI Producers & Production Capacities in 2001 for BASF, Bayer, Dow, Lyondell, Footwear ...... II-6 and Rubicon (In Million Lbs.) (includes Packaging...... II-6 corresponding Graph/Chart) ...... II-16 Transportation...... II-6 Types of Polyolefins...... II-6 MDI and TDI - A Comparison ...... II-16 ...... II-6 Environmental Regulations...... II-16 ...... II-6 The Polypropylene Switch...... II-17 Olefins...... II-7 Market Perspective and Trends...... II-17 in Automobiles...... II-17 Copolyesters...... II-7 Continued Growth in Demand from Construction Polyethlylene Foams ...... II-7 Sector...... II-17 End-Use Applications...... II-8 Foam Industry Confronted by Issue of Choice of Non Cross-Linked Polyethylene Foams Blowing Agents ...... II-18 (Non XLPE)...... II-8 Microcellular Foams...... II-18 Cross-Linked Polyethylene (XLPE) ...... II-8 Market Perspective and Trends...... II-8 3. Blowing Agents: A Review...... II-19 Demand to Grow Faster in Developing Nations...... II-8 Product Overview...... II-19 Technological Developments Impact Market...... II-9 Exothermic Blowing Agents...... II-19 Single-Site Metallocene Catalyst Technology...... II-9 Endothermic Blowing Agents...... II-20 Polypropylene ...... II-9 Adding Blowing Agents to Plastics ...... II-20 Overview ...... II-9 Carbon Dioxide Blowing Technology...... II-20 Polypropylene Foams ...... II-9 Winds of Change Sweep the Blowing Agents Market...II-20 ...... II-9 Search for Substitutes: Of Prime Importance...... II-21 Description ...... II-9 A Detailed Insight into Blowing Agents...... II-21 Expanded Polystyrene Foam...... II-10 Overview ...... II-21 Status of Transition...... II-22 Polyurethane ...... II-10 Zero ODP Alternatives ...... II-22 Description ...... II-10 Polyurethane Foams...... II-10 Table 5: ODP and GWP Rates for CFCs, HCFCs Developments...... II-11 and HFCs...... II-23 Applications...... II-11 ODP: Ozone Depleting Potential...... II-24

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GWP: Global Warming Potential...... II-24 Status and Future Trends for Technologies Polyurethane Foams...... II-24 in the Flexible PU Foam Sector ...... II-42 Prospects for Zero ODP Blowing Agents Extruded Polystyrene...... II-43 in Rigid PU Foams: Europe, US, Japan...... II-25 Extruded Polystyrene Sheet...... II-43 Polystyrene, Phenolic and Polyolefin Foams ...... II-25 Technical Options...... II-43 Environmental and Physical Properties of Widely Extruded Polystyrene Board...... II-43 Used Blowing Agents ...... II-26 Performance Requirements...... II-43 HCFC-22...... II-27 Polyolefin Foams...... II-43 HCFC-141b...... II-27 Performance Requirements...... II-43 HCFC-142b...... II-28 Technical Options ...... II-44 Methylene Chloride...... II-29 Phenolic Foam ...... II-44 HFC-134a...... II-30 Performance Requirements...... II-44 HFC-152a...... II-31 Transition Status of Various Polymeric Foams ...... II-44 HFC-245fa ...... II-32 Polyurethane Foams...... II-44 HFC-365mfc ...... II-32 Rigid Polyurethane Foams...... II-44 Carbon Dioxide...... II-33 Non-Construction Uses...... II-44 HSE Properties ...... II-34 Domestic Refrigerators and Freezers...... II-44 Cyclopentane...... II-34 Present Technology...... II-44 Isopentane ...... II-35 Future Technological Developments...... II-45 n-Pentane ...... II-36 Table 6: Worldwide Blowing Agent Use in Isobutane...... II-37 the Domestic Refrigeration Segment in 2001 n-Butane...... II-37 (includes corresponding Graph/Chart)...... II-45 Analysis Across Polymeric Foam Segments ...... II-38 Other Appliances...... II-45 Rigid PU Foam...... II-38 Present Technology...... II-45 Domestic Refrigerator and Freezer Insulation...... II-38 Future Technological Developments...... II-46 Performance Requirements...... II-38 Table 7: Worldwide Blowing Agent Use in Insulated Trucks and Reefers ...... II-39 Commercial Refrigeration and Other Performance Requirements...... II-39 Appliances in 2001 (includes corresponding Boardstock/Flexible-Faced ...... II-39 Graph/Chart)...... II-46 Performance Requirements...... II-39 Reefers and Refrigerated Transport...... II-46 Technical Alternatives...... II-39 Present Technology...... II-46 Spray Polyurethane Foam Insulation...... II-39 Future Technological Developments...... II-47 Performance Requirements...... II-39 Table 8: Worldwide Blowing Agent Use in Pipe-In-Pipe ...... II-40 Reefers & Transportation in 2001 (includes Performance Requirements...... II-40 corresponding Graph/Chart) ...... II-47 Slabstock/Preformed Pipe ...... II-40 Performance Requirements...... II-40 Construction Uses...... II-47 One Component Polyurethane Foam...... II-40 Boardstock...... II-47 Performance Requirements...... II-40 Present Technology...... II-47 Flexible PU Foam...... II-40 Future Technological Developments...... II-47 Slabstock...... II-40 Table 9: Worldwide Blowing Agent Use in Performance Requirements...... II-40 the PU Boardstock Segment in 2001 Alternative Substances...... II-41 (includes corresponding Graph/Chart)...... II-47 Methylene Chloride (MC)...... II-41 Panels - Continuous...... II-48 Acetone ...... II-41 Present Technology...... II-48 MDI Technology...... II-41 Future Technological Developments...... II-48 Molded Foams...... II-41 Performance Requirements...... II-41 Table 10: Worldwide Blowing Agent Use in the PU Continuous Panel Segment in 2001 Technical Options...... II-41 (includes corresponding Graph/Chart)...... II-48 Hot Cure and Cold Cure...... II-41 Integral Skin Foams ...... II-42 Panels - Discontinuous ...... II-48 Performance Requirements...... II-42 Present Technology...... II-48 Non-Insulating Rigid Foams...... II-42 Future Technological Developments...... II-48 Semi-Rigid foam...... II-42 Table 11: Worldwide Blowing Agent Use Rigid Foam...... II-42 in PU Discontinuous Panel Segment in 2001 Technical Options ...... II-42 (includes corresponding Graph/Chart)...... II-49

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Spray Foam ...... II-49 Extruded Polystyrene Foams...... II-57 Present Technology...... II-49 Sheet...... II-57 Future Technological Developments ...... II-49 Present Technology...... II-57 Boardstock ...... II-57 Table 12: Worldwide Blowing Agent Use in the PU Spray Foam Segment in 2001 Present Technology...... II-57 (includes corresponding Graph/Chart)...... II-50 Future Technological Developments...... II-58 Table 20: Worldwide Blowing Agent Use One-Component Foam ...... II-50 in the XPS-Board Segment in 2001 (includes Present Technology...... II-50 corresponding Graph/Chart)...... II-58 Future Technological Developments ...... II-50 Phenolic Foams...... II-59 Table 13: Worldwide Blowing Agent Use Boardstock ...... II-59 in One Component Foam Segment in 2001 Present Technology...... II-59 (includes corresponding Graph/Chart)...... II-51 Future Technological Developments...... II-59 Pipes...... II-51 Table 21: Worldwide Blowing Agent Use in the Present Technology...... II-51 Phenolic Board Segment in 2001 (includes Future Technological Developments ...... II-51 corresponding Graph/Chart)...... II-59 Table 14: Worldwide Blowing Agent Use in the Pipes and Blocks ...... II-59 Pipe-in-Pipe Segment in 2001 (includes Present Technology...... II-59 corresponding Graph/Chart)...... II-51 Future Technological Developments...... II-59 Blocks ...... II-52 Table 22: Worldwide Blowing Agent Use in the Phenolic Block Segment in 2001...... II-60 Present Technology...... II-52 Future Technological Developments ...... II-52 Panels ...... II-60 Present Technology...... II-60 Table 15: Worldwide Blowing Agent Use Future Technological Developments...... II-60 in the PU Block Segment in 2001 (includes corresponding Graph/Chart)...... II-52 Table 23: Worldwide Blowing Agent Use in the Phenolic Panel Sector in 2001 (includes Flexible Polyurethane Foams ...... II-53 corresponding Graph/Chart)...... II-60 Slabstock ...... II-53 Issues Influencing Transition...... II-61 Present Technology...... II-53 Rigid PU Foam Products and Uses ...... II-61 Future Technological Developments...... II-53 Rigid Domestic Freezer and Refrigerator Insulation .....II-61 Table 16: Worldwide Blowing Agent Use in the PU Process of Production ...... II-61 Flexible Slabstock Segment in 2001 (includes Other Appliances...... II-62 corresponding Graph/Chart) ...... II-54 Process of Production ...... II-62 Construction - Boardstock/Flexible-Faced Lamination .II-62 Molded...... II-54 Process of Production ...... II-63 Present Technology...... II-54 Construction and Transport: Sandwich Panels ...... II-63 Future Technological Developments...... II-54 Products and Uses...... II-63 Table 17: Worldwide Blowing Agent Use in the PU Process of Production ...... II-63 Flexible Molded Segment in 2001 (includes Spray Polyurethane Foam Insulation...... II-64 corresponding Graph/Chart) ...... II-55 Products and Uses...... II-64 Integral Skin and Miscellaneous Foams...... II-55 Process of Production ...... II-64 Other Rigid Polyurethane Foam Uses...... II-64 Integral Skin...... II-55 Slabstock...... II-64 Present Technology...... II-55 Product Uses...... II-64 Future Technological Developments ...... II-56 Process of Production...... II-64 Table 18: Worldwide Blowing Agent Use Preformed Pipe/Pipe-In-Pipe ...... II-64 in the PU Integral Skin Segment in 2001 Products and Uses ...... II-64 (includes corresponding Graph/Chart)...... II-56 Process of Production...... II-65 One Component Polyurethane Foam ...... II-65 Polyolefin Foams...... II-56 Process of Production...... II-65 Present Technology...... II-56 Flexible Polyurethane Foams...... II-65 Future Technological Developments...... II-56 Slabstock Foams...... II-65 Table 19: Worldwide Blowing Agent Use in Products and Uses...... II-65 the Extruded Polyethylene Segment in 2001 Process of Production ...... II-66 (includes corresponding Graph/Chart)...... II-57 Molded Foams...... II-66

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POLYMERIC FOAMS MCP-1174 A GLOBAL STRATEGIC BUSINESS REPORT

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Products and Uses...... II-66 The Loyal Group Builds a New Polystyrene Plant Process of Production ...... II-66 in China ...... II-78 Integral Skin and Miscellaneous Foams...... II-66 Rogers Purchases Korean Company KF Inc...... II-78 Products and Uses...... II-66 Enerflex Solutions Enters into Alliance with RIM...... II-67 Diversified Plastics ...... II-78 Integral Skin...... II-67 British Vita Sells its Shares in Spartech Corporation ...... II-78 Non-Insulation Rigid...... II-67 Sekisui Acquires Youngbo...... II-79 Process of Production ...... II-67 Carpenter Co. Restructures its Fogelsville EPS/Fiber Extruded Polystyrene...... II-67 Plan...... II-79 Extruded Polystyrene Sheet...... II-67 Albemarle Corporation Signs an Agreement Products and Uses...... II-67 With Rhodia SA...... II-79 Process of Production ...... II-68 Cymat Enters into a Co-Development Agreement with a Extruded Polystyrene Insulation Board ...... II-68 Detroit-Based Supplier...... II-79 Products and Uses...... II-68 Tuscarora Purchases Southeastern Packaging ...... II-80 Process of Production ...... II-69 Tuscarora Buys H & R Industries...... II-80 Polyolefin Foams...... II-69 Rogers Corporation Purchases 3M Share of Products and Uses ...... II-69 Durel Corporation...... II-80 Sheet Products ...... II-69 Seksui Chemicals Purchases Share in Shanghai Tubular Products...... II-69 Holy Plastics...... II-80 Plank Products...... II-69 Bayer Partners with Bufa Beteiligungen...... II-80 Process of Production...... II-70 Tuscarora Opens New SCA ThermoSafe Division...... II-80 Sheet Products ...... II-70 Shell Chemicals Establishes Polyols Tubular Products...... II-70 Plant in Netherlands...... II-80 Plank Products...... II-70 Woodbridge Group Opens New Plant in Canada...... II-81 Phenolic Foams ...... II-70 BASF Transfers JV Shares to Mitsubishi Chemical ...... II-81 Products and Uses ...... II-70 Hebei Yadong Develops New Polyurethane Foam...... II-81 Process of Production...... II-71 JGP Purchases Ronfalin Brand from BASF ...... II-81 Continuous Processes ...... II-71 Recticel Takes Over Inespo and Iberfoam...... II-81 Discontinuous Processes...... II-71 Rogers Restructures Polyolefin Foam Unit ...... II-82 Issues Confronting Developing Nations...... II-72 Dow Chemicals Increases Prices of Products ...... II-82 Drivers...... II-72 Zotefoams Develops Foamed Engineering Polymers ...... II-82 Advanced (Sector) Phase-Out Dates in Several Recticel Develops New Products for Medical Article 5(1) Nations...... II-72 Applications...... II-82 Important Role of Multilateral Fund...... II-72 Crest Foam Launches New Aerosol Can Packaging...... II-83 Deterrents ...... II-72 Dow Chemical Introduces Voranol Voractive Polyols ...... II-83 Need for Economic Incentives on Account of Ready BASF AG Introduces Foam Accessibility and Low Price of CFC-11 ...... II-72 in Automotive Market ...... II-83 Restricted R&D Capacity...... II-72 Celotex Introduces New Zero ODP Insulants...... II-83 Government’s Regulatory Program Coordination ...... II-72 Rogers Corporation Takes Over Cellect’s Foam Sheet Issues Connected with Safety...... II-73 Business...... II-84 Possible Imbalance Between Demand and Supply Cellect Unveils EvaCell ...... II-84 for HCFC-141b...... II-73 Byk-Chemie Acquires GE Bayer Silicones’s Long Term ODS Substitution...... II-73 Polyurethane Foam Surfactants Division ...... II-84 Sumitomo Rubber and Dow Polyurethanes Japan 4. Environmental Issues ...... II-74 form Alliance...... II-85 An Overview...... II-74 Zotefoams Increases Production Capacity of Plant...... II-85 Industry Initiative...... II-75 Bayer Establishes New Company in Spain...... II-85 New Raw Materials Reduce Emissions from PUR...... II-76 Shandong Launches Fluor-Free Polyurethane Composites Production ...... II-85 5. Trends in Technology...... II-77 Goldschmidt Launches Polyurethane Foam Stabilizers OSU to Obtain Funds for Nanotechnology Production...... II-85 Research Project ...... II-77 Voltek Launches New Polyolefin Foam...... II-85 New Patent Enhances Thermal Insulation...... II-77 Nippon Polyurethane Industry Focuses on Polyurethane R&D in China...... II-85 6. Recent Industry Activity ...... II-78 Dow Acquires Rigid Foam Insulation Business of Celotex.....II-86 BASF Acquires Foam Enterprises...... II-78 BASF Undergoes Restructuring Process ...... II-86 BASF Opens Refrigerator Applications Lab ...... II-78 Bayer Increases Prices of MDI, TDI, and Polyols ...... II-86

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Foamex International Acquires Assets of GFC ...... II-86 8. Global Market Perspective ...... II-101 Huntsman Acquires ICI’s Stake in HICI...... II-86 Table 24: World Recent Past, Current & Future Analysis Mitsui Chemicals Forms Joint Venture to Expand for Polymeric Foams by Geographic Region – US, Canada, Urethanes Capacity...... II-87 Japan, Europe, Asia-Pacific (excluding Japan), Latin America Dow Chemical Acquires EniChem’s Polyurethanes and Rest of World Markets Independently Analyzed by Annual Business...... II-87 Sales for the Years 2000 through 2010 in Thousand Metric Hodogaya and Tosoh Acquire ICI’s Stake Tons (includes corresponding Graph/Chart)...... II-101 in Nippon Polyurethanes...... II-87 Dow Chemical Company Signs Agreement with Mobius Table 25: World 10-Year Perspective for Polymeric Foams Technologies...... II-87 by Geographic Region – Percentage Breakdown of Volume Mitsubishi Chemical Develops New Polystyrene Sales for US, Canada, Japan, Europe, Asia-Pacific (excluding Product ...... II-87 Japan), Latin America and Rest of World Markets for Huntsman Purchases ICI India's Polyurethane Division...... II-87 the Years 2000, 2005 and 2010 (includes corresponding Bayer and Owens Corning Join in Technology Graph/Chart)...... II-101 Development Program...... II-88 Table 26: World Recent Past, Current & Future Analysis for Sentinel Polyolefins Divests Physically Blown Polyolefin Foams by Geographic Region – US, Canada, Japan, Foam Business...... II-88 Europe, Asia-Pacific (excluding Japan), Latin America and Atofina Develops New Technology for Polyurethane Rest of World Markets Independently Analyzed by Annual Foams Production...... II-88 Sales for the Years 2000 through 2010 in Thousand Metric Wise Industries Introduces Line of CTPO Products...... II-88 Tons (includes corresponding Graph/Chart)...... II-102 Alveo Unveils Alveolit TEE S 0300.25 Polyolefin Foam...... II-88 Table 27: World 10-Year Perspective for Polyolefin Foams Foam Fabricators Starts Facility in Mexico...... II-88 by Geographic Region – Percentage Breakdown of Volume Dow Chemical Develops Insulating Polyolefin Foam...... II-89 Sales for US, Canada, Japan, Europe, Asia-Pacific Bayer Takes Over Lyondell Chemical Polyols (excluding Japan), Latin America and Rest of World Operations ...... II-89 Markets for the Years 2000, 2005 and 2010 (includes Dow Chemical Buys Flexible Products...... II-89 corresponding Graph/Chart)...... II-102 Sekisui Chemical Partners with Zotefoams...... II-89 Table 28: World Recent Past, Current & Future Analysis for Recticel Gains Orders from GM Opel, DaimlerChrysler, Polystyrene Foams by Geographic Region – US, Canada, and BMW Group ...... II-89 Japan, Europe, Asia-Pacific (excluding Japan), Latin America Sentinel Polyeolefins Establishes New Subsidiary and Rest of World Markets Independently Analyzed by Annual in Plymouth, England ...... II-89 Sales for the Years 2000 through 2010 in Thousand Metric Huntsman Acquires Polyurethanes Division of Orica ...... II-90 Tons (includes corresponding Graph/Chart)...... II-103

7. Focus on Select Players...... II-91 Table 29: World 10-Year Perspective for Polystyrene Foams by Geographic Region – Percentage Breakdown of Volume Sales Select Brands of Polymeric Foams and their Manufacturers....II-91 for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan), Alveo (Switzerland) ...... II-92 Latin America and Rest of World Markets for the Years 2000, American Excelsior (USA) ...... II-92 2005 and 2010 (includes corresponding Graph/Chart)...... II-103 Armacell LLC (USA)...... II-93 Bubble and Foam Industries (USA) ...... II-93 Table 30: World Recent Past, Current & Future Analysis for BASF AG (Germany) ...... II-93 Polyurethane Foams by Geographic Region – US, Canada, Bayer AG (Germany)...... II-94 Japan, Europe, Asia-Pacific (excluding Japan), Latin America British Vita Plc (UK) ...... II-94 and Rest of World Markets Independently Analyzed by Annual Sales for the Years 2000 through 2010 in Thousand Metric Carpenter Co (USA)...... II-95 Tons (includes corresponding Graph/Chart)...... II-104 Celotex (UK)...... II-95 Cellect (USA)...... II-95 Table 31: World 10-Year Perspective for Polyurethane Foams Dow Chemicals (USA)...... II-95 by Geographic Region – Percentage Breakdown of Volume Fagerdala World Foams (USA)...... II-96 Sales for US, Canada, Japan, Europe, Asia-Pacific Foamex International (USA)...... II-96 (excluding Japan), Latin America and Rest of World Huntsman Corporation (USA)...... II-97 Markets for the Years 2000, 2005 and 2010 (includes Inspec Foams (USA)...... II-97 corresponding Graph/Chart)...... II-104 Recticel (Belgium) ...... II-97 Table 32: World Recent Past, Current & Future Analysis Rogers Corporation (USA)...... II-98 for PVC Foams by Geographic Region – US, Canada, Japan, Sealed Air (USA)...... II-98 Europe, Asia-Pacific (excluding Japan), Latin America and Tekni-Plex Inc (USA) ...... II-99 Rest of World Markets Independently Analyzed by Annual Tuscarora Inc (USA)...... II-99 Sales for the Years 2000 through 2010 in Thousand Woodbridge Group (USA) ...... II-100 Metric Tons (includes corresponding Graph/Chart) ...... II-105

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POLYMERIC FOAMS MCP-1174 A GLOBAL STRATEGIC BUSINESS REPORT

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Table 33: World 10-Year Perspective for PVC Foams Toys...... III-4 by Geographic Region – Percentage Breakdown of Volume Pipes...... III-5 Sales for US, Canada, Japan, Europe, Asia-Pacific California - A Step Ahead...... III-5 (excluding Japan), Latin America and Rest of World Foam Blowing Agents - A Review...... III-6 Markets for the Years 2000, 2005 and 2010 (includes Introduction ...... III-6 corresponding Graph/Chart) ...... II-105 Current Regulatory Status...... III-6 Table 34: World Recent Past, Current & Future Analysis Use of Blowing Agents in Current Polymeric for Other Polymeric Foams by Geographic Region – US, Foam Production Methods...... III-7 Canada, Japan, Europe, Asia-Pacific (excluding Japan), Acceptable Substitutes for CFC Foams Under Latin America and Rest of World Markets Independently the Significant New Alternatives Policy (SNAP) Analyzed by Annual Sales for the Years 2000 through Program as of August 21, 2003 ...... III-7 2010 in Thousand Metric Tons (includes Unacceptable Substitutes for CFC Foams Under corresponding Graph/Chart) ...... II-106 the Significant New Alternatives Policy (SNAP) Program as of August 21, 2003 ...... III-8 Table 35: World 10-Year Perspective for Other Polymeric Acceptable Substitutes for HCFC Foams Under Foams by Geographic Region – Percentage Breakdown the Significant New Alternatives Policy (SNAP) of Volume Sales for US, Canada, Japan, Europe, Asia-Pacific Program as of August 21, 2003 ...... III-8 (excluding Japan), Latin America and Rest of World Substitutes for HCFC Foams that are Acceptable Markets for the Years 2000, 2005 and 2010 Subject to Narrowed Use Limits Under the (includes corresponding Graph/Chart) ...... II-106 Significant New Alternatives Policy (SNAP) Program as of August 21, 2003...... III-9 III. MARKET Unacceptable Substitutes for HCFC Foams Under the Significant New Alternatives Policy (SNAP) 1. The United States ...... III-1 Program as of August 21, 2003 ...... III-10 A. Market Analysis ...... III-1 Strategic Developments...... III-10 Polymeric Foams – An Outlook ...... III-1 Select Players ...... III-16 Polypropylene ...... III-1 American Excelsior...... III-16 Polypropylene Use in Automobile Industry...... III-1 Armacell LLC...... III-16 Polyurethane ...... III-1 Carpenter Co...... III-17 Overview ...... III-1 Cellect...... III-17 Consumption Patterns...... III-2 Dow Chemicals...... III-17 Table 36: US Consumption of Polyurethane by End-Use Fagerdala World Foams...... III-17 Application in 2004: Percentage Breakdown for Foamex International ...... III-18 Construction, Transportation, Furniture, Carpets, Huntsman Corporation...... III-18 Appliances, Packaging, Bedding, Tanks & Pipes, Inspec Foams ...... III-19 Electronics, Footwear and Other Applications Rogers Corporation...... III-19 (includes corresponding Graph/Chart) ...... III-2 Sealed Air ...... III-20 Tekni-Plex Inc ...... III-20 Table 37: US Polyurethane Demand by Process in 2004: Percentage Breakdown for Flexible Foam, Rigid Tuscarora Inc ...... III-20 Foam, Coating, Binder, Adhesive, Elastomers, Sealants, Woodbridge Group ...... III-21 Reaction Injection Molding and Other Processes B. Market Analytics ...... III-21 (includes corresponding Graph/Chart) ...... III-2 Table 39: US Recent Past, Current & Future Analysis for End-Use Applications...... III-3 Polymeric Foams by Product Segment – Polyolefin Foams, Polystyrene Foams, Polyurethane Foams, PVC Foams and Construction...... III-3 Other Polymeric Foams Independently Analyzed by Annual Insulation...... III-3 Sales for the Years 2000 through 2010 in Thousand Raw Material Market...... III-3 Metric Tons (includes corresponding Graph/Chart) ... III-21 MDI...... III-3 Table 40: US 10-Year Perspective for Polymeric Foams by Table 38: Total Capacity of Key MDI Producers Product Segment – Percentage Breakdown of Volume Sales in the US in 2001 for BASF, Bayer, Dow Chemical for Polyolefin Foams, Polystyrene Foams, Polyurethane and Rubicon (In Million Lbs) (includes Foams, PVC Foams and Other Polymeric Foams for the corresponding Graph/Chart) ...... III-3 Years 2000, 2005 and 2010 (includes corresponding Development of Environment Friendly Graph/Chart)...... III-22 Polyurethane...... III-3 ...... III-3 2. Canada ...... III-23 Environmental Issues...... III-3 A. Market Analysis ...... III-23 Medical Equipment ...... III-4 Outlook ...... III-23

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POLYMERIC FOAMS MCP-1174 A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS

Overview ...... III-23 Polyurethane Foams ...... III-31 Regulatory Scenario...... III-23 Molded Foam...... III-31 Canadian Rigid Foam Production Sector ...... III-23 Continuous Slabstock Foam...... III-31 Polymer Systems and Blowing Agents Used ...... III-23 Table 46: Foam Grade and Use level of Blowing Agent Usage Among Rigid Foam CFC-11...... III-32 Manufacturers in Canada...... III-24 Blowing Agent Emissions...... III-24 Table 47: Blowing Efficiency of Water and Options to Reduce Non-HCFC Blowing Agent Auxiliary Blowing Agents...... III-32 Emissions...... III-24 Policy Initiatives to Reduce Emissions of Table 48: Japanese Consumption of Rigid PU Foam Blowing Agents...... III-25 by End Use in 2004: Percentage Breakdown for Housing, Appliances, Non-Housing, Tanks & Pipes, Alternatives...... III-25 Furniture, Transportation and Other Applications Phase Out Schedule ...... III-26 (includes corresponding Graph/Chart) ...... III-32 Ozone-Depleting Substances in Refrigeration and Air Conditioning Applications ...... III-26 Table 49: Japanese Consumption of Flexible PU Recent Industry Activity ...... III-27 Foam in Japan by End-Use in 2004: Percentage B. Market Analytics ...... III-27 Breakdown for Transportation, Furniture, Bedding and Other Applications (includes Table 41: Canadian Recent Past, Current & Future Analysis corresponding Graph/Chart)...... III-32 for Polymeric Foams by Product Segment – Polyolefin Foams, Polystyrene Foams, Polyurethane Foams, PVC MDI...... III-33 Foams and Other Polymeric Foams Independently Analyzed by Annual Sales for the Years 2000 through 2010 Table 50: MDI Capacity in Japan in 2001 for Mitsui in Thousand Metric Tons (includes corresponding Takeda Chemicals, Nippon Polyurethane and Sumika Graph/ Chart)(includes corresponding Graph/Chart) ...III-27 Bayer Urethane (In ‘000 Tons/Year) (includes corresponding Graph/Chart) ...... III-33 Table 42: Canadian 10-Year Perspective for Polymeric Foams by Product Segment – Percentage Breakdown of End Use Applications ...... III-33 Volume Sales for Polyolefin Foams, Polystyrene Foams, Automotive...... III-33 Polyurethane Foams, PVC Foams and Other Polymeric Foam Furnishings...... III-33 Foams for the Years 2000, 2005 and 2010 (includes Strategic Developments...... III-33 corresponding Graph/Chart)...... III-28 Select Players ...... III-35 Achilles Corp...... III-35 3. Japan ...... III-29 Mitsubishi Chemical Foam ...... III-35 A. Market Analysis ...... III-29 B. Market Analytics ...... III-35 Outlook ...... III-29 Table 51: Japanese Recent Past, Current & Future Regulatory Overview ...... III-29 Analysis for Polymeric Foams by Product Segment – HCFC Phase-Out Schedule in Japan...... III-29 Polyolefin Foams, Polystyrene Foams, Polyurethane HCFC Alternatives as Blowing Agents...... III-30 Foams, PVC Foams and Other Polymeric Foams Polyolefin Foams ...... III-30 Independently Analyzed by Annual Sales for the Years Extruded Polyolefin Foam – Transition Status 2000 through 2010 in Thousand Metric Tons...... III-35 in Japan ...... III-30 Table 52: Japanese 10-Year Perspective for Polymeric Table 43: Percentage Breakdown of High Expansion Foams by Product Segment – Percentage Breakdown Polyethylene Foam in Japan by End-Use in 2004: of Volume Sales for Polyolefin Foams, Polystyrene Percentage Breakdown for Packaging, Building, Foams, Polyurethane Foams, PVC Foams and Insulation, Industrial, Marine, Construction, Other Polymeric Foams for the Years 2000, Agriculture, Sports and Other Applications 2005 and 2010...... III-36 (includes corresponding Graph/Chart) ...... III-30 Polystyrene Foams ...... III-31 4. Europe ...... III-37 Table 44: Japanese Consumption of Polystyrene by A. Market Analysis ...... III-37 Application in 2004: Percentage Breakdown for Packaging, Outlook ...... III-37 Electrical & Industrial Parts, Foam and Other Applications Environmental Issues ...... III-37 (includes corresponding Graph/Chart)...... III-31 European Parliament Bans Certain Table 45: Japanese Consumption of Extruded Polystyrene ...... III-37 Foam by Application in 2004: Percentage Breakdown Green Paper on Polyvinyl Chloride...... III-37 for Insulation for Housing, Insulation for Construction, Denmark Initiative...... III-38 Tatami Mat, Refrigerators & Freezers and Other Applications Policy Highlights ...... III-38 (includes corresponding Graph/Chart)...... III-31 Product Segment Analysis...... III-39

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POLYMERIC FOAMS MCP-1174 A GLOBAL STRATEGIC BUSINESS REPORT

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Polystyrene ...... III-39 B. Market Analytics ...... III-44 Table 53: European Consumption of Polystyrene Table 60: French Recent Past, Current & Future Analysis by End Use Application in 2004: Percentage for Polymeric Foams by Product Segment – Polyolefin Breakdown for Packaging, Appliances, Housewares, Foams, Polystyrene Foams, Polyurethane Foams, PVC Furniture, Refrigerators, Toys, Shoe Heels, Foams and Other Polymeric Foams Independently Automotive and Other Applications (includes Analyzed by Annual Sales for the Years 2000 through corresponding Graph/Chart)...... III-39 2010 in Thousand Metric Tons (includes corresponding Graph/Chart)...... III-44 Table 54: European Consumption of Expandable Polystyrene by End-Use Market in 2004: Percentage Table 61: French 10-Year Perspective for Polymeric Breakdown for Building and Construction, Packaging Foams by Product Segment – Percentage Breakdown and Other Applications (includes corresponding of Volume Sales for Polyolefin Foams, Polystyrene Foams, Graph/Chart) ...... III-39 Polyurethane Foams, PVC Foams and Other Polymeric Foams for the Years 2000, 2005 and 2010 (includes PVC ...... III-40 corresponding Graph/Chart)...... III-45 Table 55: European PVC Demand by Application in 2004: Percentage Breakdown for Rigid PVC, 4b. Germany...... III-46 Flexible PVC and Other Applications (includes A. Market Analysis ...... III-46 corresponding Graph/Chart)...... III-40 Outlook ...... III-46 Polyurethane...... III-40 HCFC Regulation...... III-46 MDI Market ...... III-40 Polyurethane Market ...... III-46 Foam Blowing Agents – A Review...... III-40 Table 62: German Polyurethane Consumption HCFC Use Regulations for Foam Blowing in 2004 by End Use: Percentage Breakdown for in the EU...... III-40 Mechanical Engineering Vehicles, Food & Drinks, Regulatory Status of HCFC Use in Select Chemicals, Printed Goods, Industry, European Countries...... III-40 Mining, Oil, Iron/Steel, Ceramics, Glass, Furniture, B. Market Analytics ...... III-41 Sports, Toys, Textiles & Clothes and Other Table 56: European Recent Past, Current & Future Analysis Applications (includes corresponding for Polymeric Foams by Geographic Region – France, Graph/Chart)...... III-46 Germany, Italy, UK, Spain, Russia, and Rest of Europe Table 63: Polyurethane Processors in Germany by Sector Markets Independently Analyzed by Annual Sales for the in 2004: Percentage Breakdown for Insulation, Years 2000 through 2010 in Thousand Metric Tons Automotive, Slabstock and Others (includes (includes corresponding Graph/Chart) ...... III-41 corresponding Graph/Chart) ...... III-47 Table 57: European Recent Past, Current & Future Analysis Strategic Developments...... III-47 for Polymeric Foams by Product Segment – Polyolefin Select Players ...... III-49 Foams, Polystyrene Foams, Polyurethane Foams, PVC Foams and Other Polymeric Foams Independently Analyzed BASF AG ...... III-49 by Annual Sales for the Years 2000 through 2010 in Bayer AG...... III-49 Thousand Metric Tons (includes corresponding B. Market Analytics ...... III-50 Graph/Chart) ...... III-42 Table 64: German Recent Past, Current & Future Analysis Table 58: European 10-Year Perspective for Polymeric for Polymeric Foams by Product Segment – Polyolefin Foams by Geographic Region – Percentage Breakdown of Foams, Polystyrene Foams, Polyurethane Foams, PVC Volume Sales for France, Germany, Italy, UK, Spain, Foams and Other Polymeric Foams Independently Analyzed Russia, and Rest of Europe Markets for the Years 2000, by Annual Sales for the Years 2000 through 2010 in 2005 and 2010 (includes corresponding Graph/Chart) ....III-42 Thousand Metric Tons (includes corresponding Graph/Chart)...... III-50 Table 59: European 10-Year Perspective for Polymeric Foams by Product Segment – Percentage Breakdown of Table 65: German 10-Year Perspective for Polymeric Volume Sales for Polyolefin Foams, Polystyrene Foams, Foams by Product Segment – Percentage Breakdown of Polyurethane Foams, PVC Foams and Other Polymeric Volume Sales for Polyolefin Foams, Polystyrene Foams, Foams for the Years 2000, 2005 and 2010 (includes Polyurethane Foams, PVC Foams and Other Polymeric corresponding Graph/Chart)...... III-43 Foams for the Years 2000, 2005 and 2010 (includes corresponding Graph/Chart)...... III-50 4a. France ...... III-44 A. Market Analysis ...... III-44 4c. Italy...... III-51 Outlook ...... III-44 A. Market Analysis ...... III-51 Strategic Development ...... III-44 Outlook ...... III-51

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B. Market Analytics ...... III-51 4f. Russia ...... III-59 Table 66: Italian Recent Past, Current & Future Analysis A. Market Analysis ...... III-59 for Polymeric Foams by Product Segment – Polyolefin Outlook ...... III-59 Foams, Polystyrene Foams, Polyurethane Foams, PVC B. Market Analytics ...... III-59 Foams and Other Polymeric Foams Independently Table 72: Russian Recent Past, Current & Future Analysis Analyzed by Annual Sales for the Years 2000 through for Polymeric Foams by Product Segment – Polyolefin 2010 in Thousand Metric Tons (includes Foams, Polystyrene Foams, Polyurethane Foams, PVC corresponding Graph/Chart)...... III-51 Foams and Other Polymeric Foams Independently Table 67: Italian 10-Year Perspective for Polymeric Foams Analyzed by Annual Sales for the Years 2000 through by Product Segment – Percentage Breakdown of Volume 2010 in Thousand Metric Tons (includes Sales for Polyolefin Foams, Polystyrene Foams, corresponding Graph/Chart)...... III-59 Polyurethane Foams, PVC Foams and Other Polymeric Table 73: Russian 10-Year Perspective for Polymeric Foams for the Years 2000, 2005 and 2010 Foams by Product Segment – Percentage Breakdown of (includes corresponding Graph/Chart) ...... III-52 Volume Sales for Polyolefin Foams, Polystyrene Foams, Polyurethane Foams, PVC Foams and Other Polymeric 4d. The United Kingdom...... III-53 Foams for the Years 2000, 2005 and 2010 (includes A. Market Analysis ...... III-53 corresponding Graph/Chart)...... III-60 Outlook ...... III-53 Strategic Developments...... III-53 4g. Rest of Europe...... III-61 Select Players ...... III-54 A. Market Analysis ...... III-61 British Vita Plc ...... III-54 Outlook ...... III-61 Celotex...... III-55 HCFC Regulations ...... III-61 Strategic Developments...... III-61 B. Market Analytics ...... III-56 Select Players ...... III-62 Table 68: UK Recent Past, Current & Future Analysis for Bubble and Foam Industries (Belgium) ...... III-62 Polymeric Foams by Product Segment – Polyolefin Foams, Alveo (Switzerland)...... III-62 Polystyrene Foams, Polyurethane Foams, PVC Foams and Rathor AG (Switzerland) ...... III-63 Other Polymeric Foams Independently Analyzed by Annual Recticel (Belgium)...... III-63 Sales for the Years 2000 through 2010 in Thousand B. Market Analytics ...... III-64 Metric Tons (includes corresponding Graph/Chart) ....III-56 Table 74: Rest of Europe Recent Past, Current & Future Table 69: UK 10-Year Perspective for Polymeric Foams by Analysis for Polymeric Foams by Product Segment – Product Segment – Percentage Breakdown of Volume Sales Polyolefin Foams, Polystyrene Foams, Polyurethane Foams, for Polyolefin Foams, Polystyrene Foams, Polyurethane PVC Foams and Other Polymeric Foams Independently Foams, PVC Foams and Other Polymeric Foams for Analyzed by Annual Sales for the Years 2000 through 2010 the Years 2000, 2005 and 2010 (includes in Thousand Metric Tons (includes corresponding corresponding Graph/Chart)...... III-56 Graph/Chart)...... III-64 Table 75: Rest of Europe 10-Year Perspective for Polymeric 4e. Spain...... III-57 Foams by Product Segment – Percentage Breakdown of Volume Sales for Polyolefin Foams, Polystyrene Foams, A. Market Analysis ...... III-57 Polyurethane Foams, PVC Foams and Other Polymeric Outlook ...... III-57 Foams for the Years 2000, 2005 and 2010 (includes Strategic Developments...... III-57 corresponding Graph/Chart)...... III-64 B. Market Analytics ...... III-58 Table 70: Spanish Recent Past, Current & Future Analysis 5. Asia-Pacific...... III-65 for Polymeric Foams by Product Segment – Polyolefin A. Market Analysis ...... III-65 Foams, Polystyrene Foams, Polyurethane Foams, Outlook ...... III-65 PVC Foams and Other Polymeric Foams Independently China...... III-65 Analyzed by Annual Sales for the Years 2000 through Polystyrene ...... III-65 2010 in Thousand Metric Tons (includes Polyurethane ...... III-65 corresponding Graph/Chart)...... III-58 PU Consumption ...... III-65 Table 71: Spanish 10-Year Perspective for Polymeric Investment Programs...... III-66 Foams by Product Segment – Percentage Breakdown of Table 76: Growth Rates of PU Foam Usage in Volume Sales for Polyolefin Foams, Polystyrene Foams, Asia-Pacific from 1996 to 2001 for Australia, Polyurethane Foams, PVC Foams and Other Polymeric China, Indonesia, Japan, Malaysia, Singapore, Foams for the Years 2000, 2005 and 2010 (includes South Korea, Taiwan, Thailand (includes corresponding Graph/Chart)...... III-58 corresponding Graph/Chart) ...... III-66

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Table 77: Chinese MDI Producers and their Regulatory Overview ...... III-72 Capacities...... III-67 Strategic Development ...... III-72 Table 78: Import and Export of Polyurethane B. Market Analytics ...... III-73 and Related Raw Materials in China Table 82: Latin American Recent Past, Current & Future in 2000 (In Tons) ...... III-67 Analysis for Polymeric Foams by Product Segment – Polyurethane Foam Plastics...... III-67 Polyolefin Foams, Polystyrene Foams, Polyurethane Polyvinyl Chloride...... III-67 Foams, PVC Foams and Other Polymeric Foams Indonesia...... III-68 Independently Analyzed by Annual Sales for the Years 2000 through 2010 in Thousand Table 79: Indonesian Consumption of Polystyrene Metric Tons (includes corresponding by End Use Industry in 2003: Percentage Breakdown Graph/Chart)...... III-73 for Electronics, Plastics, Electrical and Telephone, Automotive Component and Other Industries Table 83: Latin American 10-Year Perspective for (includes corresponding Graph/Chart)...... III-68 Polymeric Foams by Product Segment – Percentage Thailand ...... III-68 Breakdown of Volume Sales for Polyolefin Foams, South Korea ...... III-68 Polystyrene Foams, Polyurethane Foams, PVC Malaysia...... III-68 Foams and Other Polymeric Foams for the Years 2000, 2005 and 2010 (includes corresponding India ...... III-68 Graph/Chart)...... III-73 Strategic Developments...... III-69 B. Market Analytics ...... III-71 7. Rest of World...... III-74 Table 80: Asia-Pacific Recent Past, Current & Future A. Market Analysis ...... III-74 Analysis for Polymeric Foams by Product Segment – Outlook ...... III-74 Polyolefin Foams, Polystyrene Foams, Polyurethane Foams, PVC Foams and Other Polymeric Foams B. Market Analytics ...... III-74 Independently Analyzed by Annual Sales for the Years Table 84: Rest of World Recent Past, Current & Future 2000 through 2010 in Thousand Metric Tons Analysis for Polymeric Foams by Product Segment – (includes corresponding Graph/Chart) ...... III-71 Polyolefin Foams, Polystyrene Foams, Polyurethane Table 81: Asia-Pacific 10-Year Perspective for Polymeric Foams, PVC Foams and Other Polymeric Foams Foams by Product Segment – Percentage Breakdown of Independently Analyzed by Annual Sales for the Years Volume Sales for Polyolefin Foams, Polystyrene Foams, 2000 through 2010 in Thousand Metric Tons Polyurethane Foams, PVC Foams and Other Polymeric (includes corresponding Graph/Chart) ...... III-74 Foams for the Years 2000, 2005 and 2010 (includes Table 85: Rest of World 10-Year Perspective for Polymeric corresponding Graph/Chart)...... III-71 Foams by Product Segment – Percentage Breakdown of Volume Sales for Polyolefin Foams, Polystyrene Foams, 6. Latin America ...... III-72 Polyurethane Foams, PVC Foams and Other Polymeric A. Market Analysis ...... III-72 Foams for the Years 2000, 2005 and 2010 (includes Outlook ...... III-72 corresponding Graph/Chart)...... III-75

IV. COMPETITION

1. ACMA Industries Ltd. (New Zealand)...... IV-1 15. Albemarle Corporation (USA) ...... IV-8 2. Acoustafoam Ltd. (UK) ...... IV-1 Table 86: Half Yearly Sales Analysis: 2004-2005 (H1) 3. Acriglass Srl (Italy)...... IV-2 (In US$ million) ...... IV-10 4. Acrital Snc (Italy) ...... IV-2 Table 87: Annual Sales Analysis: 2003-2004 5. Acryline AG (Switzerland) ...... IV-3 (In US$ million) ...... IV-10 6. Action Technology Italia SpA (Italy)...... IV-4 Table 88: Annual Sales Analysis by Division: 7. Adler Polska Sp z o.o (Poland) ...... IV-4 2003-2004 (In US$ million) ...... IV-10 8. Advanced Protective Packaging Ltd. (UK) ...... IV-5 Table 89: Quarterly Sales Analysis: 2003-2004 9. Aercel SpA (Italy)...... IV-6 (In US$ million) ...... IV-10 10. Aerre Imballi Srl L (Italy)...... IV-6 16. Alcan Airex AG (Switzerland)...... IV-14 11. Aesse Flex S.N.C Di Sigilli Andrea & C (Italy)...... IV-6 17. Alcan Kapa GmbH (Germany)...... IV-15 12. Afro Foam Pty., Ltd. (Australia)...... IV-7 18. Alenvi (France) ...... IV-15 13. Agro Rubin AS (Czech Republic)...... IV-7 19. Alfelder Kunststoffwerke Herm Meyer GmbH (Germany)... IV-16 14. Akisol BV (The Netherlands) ...... IV-7 20. All Foam Products Co., Inc. (USA)...... IV-17

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21. Allrim SA (France) ...... IV-18 BASF Denmark A/S (Denmark) ...... IV-103 22. American Excelsior Co (USA)...... IV-19 BASF Española SA (Spain) ...... IV-105 23. Andreas Augsburg Spezialverpackungen (Germany)...... IV-21 BASF France (France) ...... IV-106 24. Angeli Guido, Impresa Individuale (Italy) ...... IV-21 BASF Ireland Limited (Ireland)...... IV-106 25. Anhaltinische Chemische Fabriken (Germany)...... IV-22 BASF Nederland BV (The Netherlands)...... IV-106 26. Anigold Ltd. (UK) ...... IV-22 BASF PLC (UK)...... IV-107 27. Apex GB Ltd. (UK) ...... IV-22 Elastogran GmbH (Germany) ...... IV-107 28. Applied Polymers (Australia) ...... IV-23 Elastogran UK Ltd. (UK)...... IV-107 29. Aprithan Schaumstoff GmbH (Germany) ...... IV-24 49. Baxenden Chemicals Limited (UK) ...... IV-108 30. Arbet Sp J (Poland)...... IV-24 50. Beacons Products (UK)...... IV-114 31. Archiplast Srl (Italy) ...... IV-24 51. Bebermeier Schaumstoffe GmbH (Germany) ...... IV-117 32. Archmate Ltd. (UK)...... IV-25 52. Bergamo Espansi Srl (Italy) ...... IV-117 33. Ariel Industries Pty., Ltd. (Australia)...... IV-25 53. BERGER S2B GmbH (Germany)...... IV-118 34. Arkema SA (France)...... IV-26 54. Bharat Multy Fastners (India) ...... IV-119 Arkema, Inc. (USA)...... IV-47 55. Bi Composites Ltd. (UK) ...... IV-119 Table 90: Annual Sales Analysis: 2003-2004 56. Bioplast Srl (Italy)...... IV-119 (In US$ billion)...... IV-47 57. BMB Waterproofing SA-NV (Belgium) ...... IV-120 35. Armacell LLC (USA) ...... IV-51 58. Bolton Polystyrene Products (UK)...... IV-120 36. Arms Technical Engineering (UK) ...... IV-55 59. Bomal Srl (Italy) ...... IV-120 37. Artois Modelage Eurl (France) ...... IV-56 60. Borderfoam Ltd. (UK) ...... IV-121 38. Asahi Kasei Corporation (Japan) ...... IV-57 61. Bramming Plast-Industri A/S (Denmark)...... IV-122 Table 91: Annal Sales Analysis: 2003-2005 62. Brekke Industrier A/S (Norway) ...... IV-122 (In ¥ billion)...... IV-58 63. Bridgestone Corporation (Japan)...... IV-123 Table 92: Annual Sales Analysis by Business Segment: 64. British Vita PLC (UK) ...... IV-128 2004-2005 (In ¥ billion)...... IV-59 Table 101: Annual Sales Analysis: 2003-2004 Table 93: Annual Sales Analysis by Business Segment: (In £ million) ...... IV-130 2003-2004 (In ¥ billion)...... IV-59 Table 102: Annual Sales Analysis by Segment: 39. ASKI-Schaum Hans Kurz (Germany)...... IV-63 2003-2004 (In £ million) ...... IV-130 40. Astorplast Selbstkleberprodukte AG (Switzerland) ...... IV-63 Table 103: Annual Sales Analysis by Geographical 41. ATP-USA Manufacturing LLC (USA) ...... IV-64 Region: 2003-2004 (In £ million)...... IV-131 42. Australian Urethane Systems Pty Ltd. (Australia)...... IV-65 Caligen Europe BV (The Netherlands) ...... IV-135 43. Austrotherm GesmbH (Austria)...... IV-65 Caligen Foam Limited (UK) ...... IV-136 Austrotherm Sp z o.o (Poland)...... IV-66 Crest Foam Industries, Inc. (USA)...... IV-138 44. Avek International BV (The Netherlands) ...... IV-67 Custom Foams (UK)...... IV-139 45. Axial (France)...... IV-67 Draka Interfoam BV (The Netherlands)...... IV-141 46. B Åkesson & Co. (Sweden) ...... IV-67 Interfoam Limited (UK)...... IV-141 47. B6 A/S (Denmark)...... IV-68 Kay-Metzeler Ltd. (UK) ...... IV-141 48. BASF Aktiengesellschaft (AG) (Germany) ...... IV-70 Metzeler Schaum GmbH (Germany) ...... IV-141 Table 94: Half Yearly Sales Analysis: 2004-2005 (H1) Tramico SA (France) ...... IV-142 (In € billion)...... IV-77 Veenendaal Schaumstoffwerk GmbH (Germany)...... IV-142 Table 95: Half Yearly Sales Analysis by Segment: Vitafoam, Inc. (USA)...... IV-142 2004-2005 (H1) (In € billion) ...... IV-77 Vitafoam Ltd. (UK) ...... IV-143 Table 96: Half Yearly Sales Analysis by Geographical Vita Cortex Ltd. (UK)...... IV-144 Region: 2004-2005 (H1) (In € billion) ...... IV-77 Vita Industrial Polymers (UK) ...... IV-145 Table 97: Annual Sales Analysis: 2003-2004 Vita New Zealand Ltd. (New Zealand) ...... IV-147 (In € billion)...... IV-78 Vita Polymers Poland Sp. z.o.o. (Poland) ...... IV-148 Table 98: Annual Sales Analysis by Segment: 65. Bubble & Foam Industries NV-SA (Belgium) ...... IV-149 2003-2004 (In € billion)...... IV-78 66. Budaplast Muanyagipari Es Kereskedelmi Rt. (Hungary)... IV-150 Table 99: Annual Sales Analysis by Geographical 67. Burnett, Wm T., & Co. (USA) ...... IV-151 Region: 2003-2004 (In € billion) ...... IV-78 68. Bustaplast SAS (Italy)...... IV-151 Table 100: Annual Sales Analysis by Quarter: 69. C.B. frost and co. Ltd (United Kingdom)...... IV-152 2003-2004 (In € billion)...... IV-78 70. C2M SA (Spain) ...... IV-156 BASF AS (Norway)...... IV-97 71. Caledonian Ferguson And Timpson Ltd. (UK) ...... IV-157 BASF Corporation (USA)...... IV-97 72. Calpac SA (France)...... IV-159

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CONTENTS

73. Capri Dinghies (UK)...... IV-161 109. CS Manufacturing, Ltd (UK)...... IV-197 74. Carpe Snc (Italy)...... IV-161 110. Custompac Ltd. (UK)...... IV-197 75. Carpenter Company (USA)...... IV-162 111. Daelim Industrial Co., Ltd. - Petrochemical Division Carpenter APS (Denmark)...... IV-165 (Korea)...... IV-198 Carpenter PLC (UK)...... IV-166 112. Dainaga Chemical Co., Ltd. (Japan)...... IV-199 Carpenter SAS (France)...... IV-166 113. Dalban Indústria Reunidas S/A (Brazil)...... IV-199 Carpenter Schaumstofftechnik GmbH (Germany) ...... IV-166 114. Dart Container Corporation (USA) ...... IV-200 Carpenter Sweden AB (Sweden) ...... IV-167 115. Decoplast Italiana Srl (Italy) ...... IV-201 76. Cellect LLC (USA)...... IV-168 116. Dee Bee Foams Ltd. (UK)...... IV-202 77. Celloflex ® Kohler & Krafft GmbH & Co. KG 117. Dekafom (Russian Federation)...... IV-202 (Germany)...... IV-169 118. Delamare Sovra SA (France) ...... IV-202 78. Cellofoam North America, Inc. (USA) ...... IV-170 119. Depron BV (The Netherlands) ...... IV-203 79. Cel-ltex Fabrications Ltd. (UK) ...... IV-171 120. Deutsche ICI GmbH (Germany) ...... IV-203 80. Celotex (UK) ...... IV-174 121. Dorocell AB (Sweden)...... IV-204 81. Centre Plastique SA (France)...... IV-175 122. Dorpol S.C. Wypelnienia Drzwiowe (Poland) ...... IV-204 82. Cerm (France)...... IV-175 123. Dow Chemical Company (The) (USA)...... IV-205 83. Charlotte Baur Formschaumtechnik GmbH (Germany)...... IV-176 Table 107: Nine Months Sales Comparison: 2004-2005 84. Chemical Pan SpA (Italy) ...... IV-176 (Nine Months Ended, September) (In US$ billion)..... IV-208 85. Chiin Wei Ent Co., Ltd. (Taiwan)...... IV-176 Table 108: Nine Months Sales Comparison by 86. Chiyogawa Chemical Co., Ltd. (Japan)...... IV-177 Division: 2004-2005 (Nine Months Ended, 87. Cimo Schaumstoffe, Inh. Christa Meyerhoff (Germany) .... IV-177 September) (In US$ billion) ...... IV-209 88. Claremont Sales Corporation (The) (USA)...... IV-177 Table 109: Nine Months Sales Comparison by 89. Cler Sud SpA (Italy) ...... IV-178 Geographical Region: 2004-2005 (Nine Months 90. Clomac Ltd. (UK)...... IV-178 Ended, September) (In US$ billion) ...... IV-209 91. Colmar Découpes Sarl (France) ...... IV-179 Table 110: Annual Sales Comparison: 2003-2004 92. Colombin Bel SA de CV (Mexico)...... IV-179 (In US$ billion) ...... IV-209 93. Combass Ltd. (UK)...... IV-179 Table 111: Annual Sales Comparison by Division: 94. Compagnie Plastic Omnium (France) ...... IV-180 2003-2004 (In US$ billion) ...... IV-209 Table 104: Half Yearly Sales Analysis: Dow Benelux NV (Belgium) ...... IV-216 2004-2005 (H1) (In € million)...... IV-180 Dow Chemical Co., Ltd. (UK) ...... IV-217 Table 105: Annual Sales Analysis: 2003-2004 Dow Deutschland, Inc. (Germany)...... IV-217 (In € million)...... IV-181 Dow Europe SA (Switzerland)...... IV-217 Table 106: Annual Sales Comparison by Business Dow Italia Srl (Italy)...... IV-218 Segments: 2003-2004 (In € million)...... IV-181 Dow Polska Sp. Z O.O (Poland)...... IV-218 Plastic Omnium AB (Sweden)...... IV-181 124. Dresdner Modellbau GmbH (Germany)...... IV-219 Plastic Omnium AG (Switzerland) ...... IV-182 125. Duflex Limited (UK)...... IV-219 Plastic Omnium BV (The Netherlands) ...... IV-182 126. Dumo SA (France)...... IV-220 Plastic Omnium SA (Portugal) ...... IV-182 127. Dunlop Flexible Foams (Australia)...... IV-220 95. Complete Filtration Ltd. (UK) ...... IV-183 128. Durol GmbH & Co. KG Chemische Fabrik (Germany) ...... IV-221 96. Compreforme SA (France)...... IV-184 129. E & R Polymers Ltd. (UK)...... IV-221 97. Comprifix Cc (South Africa) ...... IV-184 130. E-A-R Specialty Composites Division (USA)...... IV-222 98. Coneroplastik Snc (Italy) ...... IV-185 131. EBCO GmbH (Germany)...... IV-223 99. Conforum (Russian Federation)...... IV-185 132. Efisol (France) ...... IV-223 100. ContiTech Holding GmbH (Germany)...... IV-186 133. EFP Corporation (USA)...... IV-223 ContiTech Formpolster GmbH (Germany) ...... IV-189 134. Elastik-Plastika A.D (Serbia and Montenegro)...... IV-224 Contitech Scandinavia AB (Sweden)...... IV-189 135. Electrisol Kunststoffen BV (The Netherlands)...... IV-224 101. Convermex del Norte SA de CV (Mexico) ...... IV-192 136. Elite Plastic Engineering CC (South Africa)...... IV-225 102. CopesCoat Spalmati Industriali Srl (Italy) ...... IV-193 137. Elliott Company of Indianapolis (USA)...... IV-225 103. Copex UK Ltd. (UK) ...... IV-194 138. EM2 Emballage (France) ...... IV-225 104. Copo Ibérica SA (Spain)...... IV-194 139. Emaform AG (Switzerland) ...... IV-226 105. Cordex – SGPS SA (Portugal) ...... IV-194 140. ENAC (France) ...... IV-226 106. Covi Srl (Italy)...... IV-195 141. Equipe Srl (Italy)...... IV-227 107. CP Skumisolering AB (Sweden)...... IV-195 142. Erich Ruhl AG Chemische Fabrik & Co. (Germany)...... IV-227 108. Creative Foam Corporation (USA) ...... IV-196 143. Ersan Ambalaj Ve Yalitim San.Tic. (Turkey) ...... IV-227

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144. Erwin Friedmann Kunststoffwerk GmbH (Germany) ...... IV-228 188. FSI Fuhrmann Schaum Industrie GmbH (Germany)...... IV-276 145. Espumadora Balear SA (Spain)...... IV-228 189. Futaba Vinyl Co., Ltd. (Japan)...... IV-276 146. Espumados ABSA S.A DE C.V (Mexico) ...... IV-228 190. Future Foam, Inc. (USA)...... IV-276 147. Espumados De Estirenos (Mexico)...... IV-229 191. G. K. Rizakos SA (Greece) ...... IV-277 148. Espumas Lauxen Ltda (Brazil)...... IV-229 192. Galant-Plast AB (Sweden) ...... IV-278 149. ET Sthlm AB (Sweden) ...... IV-229 193. GE Plastics (USA) ...... IV-279 150. ETS Despature Mannessier (France)...... IV-230 GE Plastic ABS BV (The Netherlands)...... IV-283 151. ETS Guiraud & Cie (France) ...... IV-230 GE Plastics ABS Ltd. (UK) ...... IV-283 152. ETS Ricornet et Cie (France)...... IV-230 GE Plastics De España Sociedad Comandita Por Acciones 153. Euro Resine SAS (Italy)...... IV-231 (Spain)...... IV-284 154. Euroespans, SNC (Di Mengoni Febo & C.) (Italy) ...... IV-231 GE Plastics France (France)...... IV-284 155. Eurofoam Deutschland GmbH Schaumstoffe (Germany) ... IV-232 GE Plastics GmbH (Germany)...... IV-285 Eurofoam Ltd. (UK) ...... IV-233 Ge Plastics Italia S.R.L (Italy)...... IV-285 Eurofoam Polska Sp z o.o (Poland) ...... IV-233 GE Plastics Ltd. (UK)...... IV-285 156. Europor GmbH & Co. KG (Germany)...... IV-234 194. Gefinex-Jackon Vertriebs GmbH (Germany)...... IV-286 157. Expanded Plastics Pty Ltd (Australia)...... IV-234 195. General Packaging Company, Ltd. (The) (UK)...... IV-287 158. F.I.SE.M., SRL ...... IV-234 196. General Plastic Manufacturing Company (USA) ...... IV-290 159. Facot Chemicals S.N.C (Italy) ...... IV-235 197. Geplast (Romania) ...... IV-290 160. Fagerdala World Foams (Sweden)...... IV-239 198. Gergonne GPI Espagne SA (Spain)...... IV-291 Dan-Foam A/S (Denmark)...... IV-242 199. GGS Srl (Italy)...... IV-291 Fagerdala World Foams (Sweden)...... IV-242 200. Glasfiberteknik I Landskrona AB (Sweden) ...... IV-292 Fagerdala Airofom AG (Switzerland)...... IV-242 201. GNG Foam Converters (UK) ...... IV-292 Fagerdala Deutschland GmbH (Germany)...... IV-243 202. Goldkamp, Thomas G., Inc. (USA)...... IV-293 Fagerdala Benelux S.A (Belgium)...... IV-244 203. Gonon Isolation AG (SA) (Switzerland)...... IV-294 Fagerdala Singapore Pte., Ltd. (Singapore) ...... IV-244 204. Gorvi SA (Spain) ...... IV-294 161. Faist-Automotive GmbH & Co.Kg (Germany)...... IV-245 205. Grando Massin SA-NV (Belgium)...... IV-295 162. Fathomtree Ltd. (UK) ...... IV-246 206. Gregersen & Rosenvinge AS (Norway) ...... IV-296 163. Fe-Ro Plastica, SRL (Italy)...... IV-246 207. Greiner Perfoam GmbH (Austria)...... IV-296 164. Fersina Windows Ltd. (UK)...... IV-247 208. Groupe Maillard Industrie SA (France)...... IV-297 165. Fiber Products Industrial, Inc. (USA) ...... IV-248 209. Groupe Messai Sarl (Algeria)...... IV-299 166. Filmolux Neschen (France)...... IV-249 210. Groupe Rymm (Algeria) ...... IV-300 167. Flex Pur S.N.C (Italy) ...... IV-249 211. Grupo Polimex SA de CV (Mexico) ...... IV-301 168. Flexipol Espumas Sintéticas SA (Portugal)...... IV-250 212. Grupo Uno Purmat SL (Spain)...... IV-302 169. Flex-IT Co. (UK) ...... IV-250 213. Gschwend + Hohl AG (Switzerland)...... IV-303 170. FM Corporation (USA)...... IV-251 214. Guangzhou Kanglong Plastic Products Co., Ltd. 171. Foam Design, Inc. (USA) ...... IV-252 (China)...... IV-303 172. Foam Developments Ltd. (UK)...... IV-254 215. Gumotex AS (Czech Republic)...... IV-304 173. Foam Engineers Ltd. (UK)...... IV-254 216. Haas GmbH + Co. Kunststoff KG (Germany) ...... IV-306 174. Foam Molders & Specialties (USA) ...... IV-255 217. Hago Chemotechnik GmbH & Co. KG (Germany)...... IV-307 175. Foam Techniques Ltd. (UK) ...... IV-256 218. Hallam Plastics Ltd. (UK)...... IV-308 176. Foamade Industries, Inc. (USA)...... IV-257 219. Hanno-Werk GmbH & Co. KG (Germany)...... IV-309 177. Foamex International, Inc. (USA)...... IV-258 220. Hanwa Industry Co., Ltd. (Japan) ...... IV-311 Foamex Manufacturing Pty. Ltd (Australia)...... IV-264 221. Harbort GmbH & Co. KG (Germany)...... IV-311 178. Foampac GmbH (Switzerland)...... IV-265 222. Hartschaumtechnik Götz GmbH (Germany) ...... IV-312 179. FoamPartner Fritz Nauer AG (Switzerland)...... IV-266 223. Hata Skum Aps (Denmark)...... IV-312 180. Foam-Tec SA (Belgium)...... IV-268 224. Hatsugari Chemical Industrial Works Co., Ltd. (Japan)...... IV-313 181. Fomo Products Ltd. (UK) ...... IV-269 225. Heering Kunststof Profielen BV (The Netherlands)...... IV-313 182. Formica Italia, SRL (Italy)...... IV-269 226. Herberts Foam & Textiles (UK)...... IV-314 183. Fosroc Ltd. (UK)...... IV-270 227. Herdin GesmbH (Austria)...... IV-314 184. Free-Flow Packaging International, Inc. (USA)...... IV-272 228. Hickory Springs Manufacturing Co. (USA)...... IV-315 FP International S.A (France)...... IV-273 229. Hn Kunststoffprodukte GmbH (Germany)...... IV-316 185. Friedrich Platt GmbH (Germany) ...... IV-274 230. Hoco Schaumstoffe (K.Hofer) (Switzerland) ...... IV-316 186. Frina Mousse France (France)...... IV-275 231. Hsv-Polska Sp. z o.o. (Poland)...... IV-317 187. Fritz Nauer AG (Switzerland)...... IV-275 232. Ht Troplast AG (Germany) ...... IV-317

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233. Huntsman Corporation (USA) ...... IV-318 268. Jacopac AB (Sweden) ...... IV-359 Table 112: First Quarter Sales Analysis: 269. Javaux (France)...... IV-360 2004-2005 (Q1) (In US$ million)...... IV-320 270. Jebsen & Jessen Broadway (Singapore)...... IV-360 Table 113: First Quarter Sales Analysis by Segment: 271. Jet-Kunststofftechnik Ulrich Kreft GmbH (Germany) ...... IV-361 2004-2005 (Q1) (In US$ million)...... IV-320 272. Jib (Joints Pour L'industrie Et Le Bâtiment) SA (France) ... IV-361 Table 114: Annual Sales Analysis by Segment: 273. Jiffy Packaging Co., Ltd. (UK) ...... IV-362 2003-2004 (In US$ million) ...... IV-320 274. Jit-Pak Foam & Packaging Solutions (UK)...... IV-363 Table 115: Annual Sales Analysis by Geographic 275. Johnson Controls, Inc. (USA) ...... IV-364 Region: 2003-2004 (In US$ million)...... IV-320 Table 116: Half Yearly Sales Analysis: Huntsman Polyurethanes (Belgium) ...... IV-325 2004-2005 (H1) (In US$ billion)...... IV-365 234. I.C.S.S. SpA (Industria Cartaria S. Spirito) (Italy)...... IV-327 Table 117: Half Yearly Sales Analysis by Segment: 235. I.L.M.E. Srl (Italy) ...... IV-327 2004-2005 (In US$ billion) ...... IV-365 236. I.S.P.E. Industria Siciliana Poliuretani Espansi SpA Table 118: Annual Sales Analysis: 2003-2004 (Italy) ...... IV-327 (In US$ billion) ...... IV-365 237. Ibérica De Espumas Y Flockajes SA (Spain)...... IV-328 Table 119: Annual Sales Analysis by Segment: 238. Ibérica De Industrias Químicas SA (Spain) ...... IV-328 2003-2004 (In US$ billion) ...... IV-366 239. Icekin Moldings Ltd. (Ireland)...... IV-328 Table 120: Annual Sales Analysis by Geographical 240. Ico, Inc. (USA) ...... IV-329 Region: 2003-2004 (In US$ billion)...... IV-366 241. Icoa SA (Spain)...... IV-330 Johnson Controls Austria GesmbH (Austria)...... IV-369 242. IFS Group (UK)...... IV-331 276. Joongbo Química Do Brasil Ltda. (Brazil)...... IV-370 243. Illbruck GmbH & Co. KG (Germany) ...... IV-332 277. Josef Hock Schaumstoff Und Textil GmbH (Germany)...... IV-370 Illbruck, Inc. (USA)...... IV-341 Illbruck Bâtiment Sarl (France) ...... IV-342 278. K Balling-Engelsen A/S (Denmark)...... IV-371 Illbruck Bau AG (Switzerland)...... IV-342 279. Kabelwerk Eupen AG (Belgium) ...... IV-372 Illbruck Belgium NV (Belgium)...... IV-342 280. Kaneka Corporation (Japan)...... IV-373 Illbruck Ltd. (UK)...... IV-342 281. Kanto Achilles Earon Co., Ltd. (Japan)...... IV-374 Illbruck Sanitärtechnik GmbH (Germany)...... IV-343 282. Kaofu Chemical Corporation (Taiwan)...... IV-374 Illbruck Sealant Systems Production SA (Belgium) ...... IV-343 283. Kay Dee Engineering Plastics Ltd. (UK) ...... IV-375 244. Ilmplast Polyurethanschaumstoffe GmbH (Germany) ...... IV-344 284. Kaygee Foam Pvt., Ltd. (India)...... IV-375 245. Imar SpA (Italy)...... IV-344 285. Keb Packaging Ltd. (UK)...... IV-376 246. Imbema Kunststoffchemie GmbH (Germany) ...... IV-344 286. Kem-Products NV (Belgium)...... IV-376 Imbema Kunststofchemie BV (The Netherlands) ...... IV-345 287. Kewell Converters Ltd. (UK)...... IV-377 247. Imfeld Hirschleder AG (Switzerland) ...... IV-346 288. Kincora Limited (UK)...... IV-379 248. Impak Foam & Rubber Ltd. (UK)...... IV-346 289. King's Matelas (Algeria) ...... IV-380 249. Impursa-Industria Del Poliuretano SA (Spain)...... IV-347 290. Kitakanto Inoac Co., Ltd. (Japan) ...... IV-380 250. Indepol SL (Spain)...... IV-347 291. Klebchemie M. G. Becker GmbH Co. KG (Germany)...... IV-381 251. Industrial Urethanes (Pty) Ltd. (South Africa)...... IV-348 292. Knauf Gips KG (Germany) ...... IV-382 252. Inotan AS (Norway)...... IV-350 Knauf Cantarana SpA (Italy) ...... IV-382 253. Inspec Foams, Inc. (USA)...... IV-350 Knauf Foams (UK) ...... IV-383 254. Integrated Poly Products Pty., Ltd. (Australia)...... IV-351 Knauf Ile-De-France (France)...... IV-383 255. Interprod., SpA (Italy)...... IV-351 Knauf Isol-Pack Sprl-Bvba (Belgium)...... IV-383 256. Ipe-Indústria Produtora De Espumas Lda (Portugal)...... IV-351 Knauf Pack Sp. z o.o. (Poland) ...... IV-384 257. Ishigami Styrol Co., Ltd. (Japan) ...... IV-352 Knauf Pack Sud-Ouest (France)...... IV-384 258. Isidro Folch Grau (Spain) ...... IV-352 Knauf Rhône-Alpes (France) ...... IV-384 259. Isik Ic Ve Dis Ticaret AS (Turkey)...... IV-352 Knauf-Foam (France)...... IV-385 260. Isl Schaumstoff-Technik GmbH (Germany) ...... IV-353 293. Koga Condenser Co., Ltd. (Japan) ...... IV-386 261. Iso Star Bvba (Belgium) ...... IV-353 294. Königsbronner Verpackungen GmbH & Co. (Germany) .... IV-386 262. Iso-Chemie GmbH (Germany)...... IV-354 295. Koolfoam Pty., Ltd. (Australia)...... IV-387 263. Isofom Srl (Italy) ...... IV-355 296. Kramo NV-SA (Belgium) ...... IV-387 264. Isomatic AG (Isoliermaterialien Und Kunststoffe) 297. Kromatik & Insulants Pvt., Ltd. (India)...... IV-388 (Switzerland)...... IV-356 298. Kunststoffwerk Katzbach GmbH (Germany)...... IV-388 265. Isospa Srl (Italy)...... IV-356 299. Kureta GmbH & Co. KG (Germany) ...... IV-389 266. Isowa GmbH (Germany)...... IV-357 300. Kuvo-Tec (France)...... IV-390 267. Izolan (Russian Federation) ...... IV-359 301. Kyushu Inoac Co., Ltd. (Japan)...... IV-390

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302. L.A.M.P.A. Snc (Italy)...... IV-391 339. Mitsubishi Chemical Corporation (Japan)...... IV-423 303. L.J.A. Miers & Co., Ltd. (UK)...... IV-391 Table 128: Annual Sales Analysis: 2003-2004 304. Landini Srl (Italy) ...... IV-392 (In ¥ billion)...... IV-427 305. Lanxess AG (Germany) ...... IV-393 Table 129: Annual Sales Analysis by Segment: Table 121: First Quarter Sales Analysis: 2003-2004 (In ¥ billion)...... IV-427 2004-2005 (Q1) (In € million)...... IV-393 340. Mobiespans S.R.L Di Bellussi Sandro & C (Italy)...... IV-434 Table 122: First Quarter Sales Analysis by 341. Modelage Martin Sarl (France) ...... IV-435 Segment: 2004-2005 (Q1) (In € million)...... IV-394 342. Modellbau Finkler Architektur Design Funktion Table 123: First Quarter Sales Analysis by (Germany)...... IV-435 Geographical Region: 2004-2005 (Q1) 343. Modern Material Ent Co., Ltd. (Taiwan)...... IV-435 (In € million)...... IV-394 344. Molan-Werke AG (Switzerland)...... IV-436 Table 124: Annual Sales Analysis: 2003-2004 345. Moltoplast GesmbH (Austria)...... IV-436 (In € million)...... IV-394 346. Monotherm SA (Greece)...... IV-437 Lanxess Corporation (USA) ...... IV-395 347. Morard Europe (France)...... IV-437 306. Laucoin SA (France)...... IV-398 348. Mortile Industries Ltd. (Canada)...... IV-438 307. Le Joint A.S.D. (Asd Le Joint) (France) ...... IV-399 349. Mousse Feuchter Et Cie (France)...... IV-439 308. Lederplast Finte Pelli SpA (Italy) ...... IV-400 350. Mra Cutting Tools (UK)...... IV-439 309. Lefranc-Bosi SA (France)...... IV-400 351. Mst-Schaumstofftechnik GmbH & Co. KG (Germany) ...... IV-440 310. Lemahieu H.K. NV (Belgium)...... IV-401 352. Multitude Technologies (France) ...... IV-440 311. Les Ateliers De L' Orge (A.O.) (France)...... IV-401 353. Multy Foam SA (Greece)...... IV-441 312. Lett Emballasje A/S (Norway)...... IV-401 354. Multy Mousse Sprl (Belgium)...... IV-441 313. Lindale Ltd. (Ireland)...... IV-402 355. N & M Petzetakis SA (Greece) ...... IV-441 314. Linea Gomma S.N.C Di Catania G & C. (Italy)...... IV-402 356. Naish Felts Ltd. (UK)...... IV-442 315. Loungefoam (South Africa)...... IV-402 357. Natural Chemical Products Sp z.o.o (Poland) ...... IV-443 316. Loyal Group (Taiwan) ...... IV-403 358. Nebeling GmbH Modellbau (Germany)...... IV-443 317. Lyondell Chemical Company (USA) ...... IV-404 359. Netplast Ltd. (India)...... IV-444 Table 125: Nine Months Sales Analysis: 2004-2005 360. New Dimension Industries, Inc. (USA)...... IV-444 (Nine Months Ended September) (In US$ million)..... IV-406 361. Nippon Polyurethane Industry Co., Ltd. (Japan)...... IV-445 Table 126: Annual Sales Analysis: 2003-2004 362. Nishinihon Vinyl Industry Co., Ltd. (Japan) ...... IV-445 (In US$ million) ...... IV-406 363. Nisshinbo Industries, Inc. (Japan) ...... IV-446 Table 127: Annual Sales Analysis by Segment: 364. NMC SA (Belgium)...... IV-449 2003-2004 (In US$ million) ...... IV-406 365. Nomaco, Inc. (USA) ...... IV-452 318. M.D Marmonier Distribution (France)...... IV-412 366. Nord Italia Isolanti Srl (Italy)...... IV-455 319. Maasstad Rubber (The Netherlands)...... IV-412 367. Novempor SA (France)...... IV-455 320. Macfarlane Group (UK)...... IV-413 368. Noveon Europe Bvba-Sprl (Belgium) ...... IV-456 321. Manipla (Italy) ...... IV-414 369. Ntb Sp z.o.o (Poland)...... IV-456 322. Mapis d.o.o (Slovenia)...... IV-415 370. Nuova Lamasi SAS (Italy) ...... IV-456 323. Maricell Srl (Italy) ...... IV-415 371. NVP Vladipur Ltd. (Russia)...... IV-457 324. Mariflex Due Srl (Italy) ...... IV-415 372. Nytex Composites Co., Ltd. (Taiwan)...... IV-458 325. Martins Rubber Co., Ltd. (UK)...... IV-416 373. O.K. Company SA (Spain)...... IV-459 326. Mastermodels Ltd. (UK)...... IV-417 374. Odda Plast A/S (Norway)...... IV-459 327. Mateca (France)...... IV-417 375. Okada Styrol Co., Ltd. (Japan)...... IV-460 328. Materiales Estructurales Ligeros (Spain) ...... IV-417 376. Okasawa Industry Co., Ltd. (Japan) ...... IV-460 329. Mayser GmbH & Co. KG (Germany) ...... IV-418 377. Oki High Frequency Industry Co., Ltd. (Japan) ...... IV-460 330. Mcn Moldings Ltd. (UK)...... IV-418 378. Omega Snc (Italy) ...... IV-461 331. Me.Res Srl (Italy) ...... IV-418 379. Orchard Foam Packaging Ltd. (UK) ...... IV-461 332. Megaterm Plus Sp z.o.o (Poland)...... IV-419 380. Orion Industries Ltd. (UK)...... IV-461 333. Mehren Rubber AS (Norway)...... IV-419 381. Otto Bock Kunststoff GmbH & Co. (Germany)...... IV-462 334. Metalpur Sp z.o.o (Poland) ...... IV-420 382. P.U.Foam Insulation & Trading Co., Ltd. (Thailand)...... IV-463 335. Mewett Polyurethane Ltd. (UK)...... IV-421 383. Pac Foam Products Corporation (USA) ...... IV-464 336. Mica Industrial La Laguna SA de CV (Mexico) ...... IV-421 384. Pacific Plastics (Thailand) Ltd. (Thailand)...... IV-465 337. Michael Boes Modellbau (Germany) ...... IV-422 385. Packstat Limited (UK) ...... IV-466 338. Mike Reynolds Industrial Fabrics (UK) ...... IV-422 386. Pactiv Corporation NV (Belgium)...... IV-467

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POLYMERIC FOAMS MCP-1174 A GLOBAL STRATEGIC BUSINESS REPORT

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387. Palziv (Israel)...... IV-467 436. Producent Styropianu I Materialow Budowlanych 388. Pana Schaumsott GmbH (Germany) ...... IV-468 (Poland)...... IV-499 389. Pascoe Industries Pty., Ltd. (Australia)...... IV-469 437. Profilplast, SNC (Di Ramadani Cesare E C) (Italy) ...... IV-499 390. Peka Chemie GmbH (Germany) ...... IV-469 438. Proji SARL (France) ...... IV-500 391. Permali Gloucester Ltd. (UK) ...... IV-470 439. Promousse SA (France)...... IV-501 392. Philippine GmbH & Co Technische Kunststoffe KG 440. Prospark Ent Co., Ltd. (Taiwan) ...... IV-501 (Germany)...... IV-473 441. Proxital, SpA (Italy)...... IV-501 393. Phoenix Polyurenthane Products CC (South Africa)...... IV-475 442. PSW Packaging Limited (UK)...... IV-502 394. Pianeta Espanso Srl (Italy)...... IV-476 443. Pullflex SA (France) ...... IV-503 395. Pilzecker’s Industrie BV (The Netherlands)...... IV-476 444. Pur Plast AS (Norway)...... IV-503 396. Pimi D.O.O. (Serbia And Montenegro)...... IV-476 445. Pural GmbH (Switzerland)...... IV-503 397. Placoplatre (France)...... IV-477 446. Puratech GmbH (Switzerland) ...... IV-504 398. Plast Uri (France)...... IV-477 447. Purmoval (Spain) ...... IV-504 399. Plastic Legno SpA (Italy)...... IV-477 448. Puromer Kunststoff-Systeme GmbH (Germany)...... IV-504 400. Plastic Sud, Impresa Individuale (Di Santoro Giovanni) 449. Purtec Formverschäumungen GmbH (Germany) ...... IV-505 (Italy) ...... IV-478 450. Purvac OY (Finland)...... IV-505 401. Plasticos Urpri SA de CV (Mexico)...... IV-478 451. Q Flex Ltd. (Ireland) ...... IV-506 402. Plastiform's SA (France)...... IV-479 452. Quartex Chemicals Limited (UK) ...... IV-506 403. Plastik Manna Ciro & Giuseppe Snc (Italy)...... IV-480 453. Quinflex S.N.C Di Quinzanini (Italy) ...... IV-507 404. Plastime SpA (Italy)...... IV-481 454. Raigi SA (France) ...... IV-507 405. Plastimeca Sprl (Belgium) ...... IV-481 455. RAMPF Giessharze GmbH & Co. KG (Germany)...... IV-508 406. Plastiques Armes De L Est (France) ...... IV-481 456. Ras Polybuild Products Pvt., Ltd. (India)...... IV-508 407. Plastomer Corporation (USA)...... IV-482 457. Recticel Group (Belgium)...... IV-509 408. Plastpur Sp. z.o.o. (Poland)...... IV-483 Recticel AB (Sweden)...... IV-511 409. Plastringen (Sweden) ...... IV-483 Recticel France Sas (France)...... IV-511 410. Plastym SA (France)...... IV-484 Recticel Technical Foams (The Netherlands)...... IV-511 411. Platt & Hill Ltd. (UK)...... IV-485 Recticel Ltd (UK)...... IV-512 412. Poli-Blok Srl (Italy) ...... IV-485 458. Recuperaciones E.M.P SA (Spain)...... IV-513 413. Policel Srl (Italy)...... IV-486 459. Reedy International Corporation (USA)...... IV-513 414. Poliembalajes SL (Spain)...... IV-486 460. Rehau AG + Co. (Germany) ...... IV-514 415. Poliestireno Alfa Gamma SA de CV (Mexico) ...... IV-486 461. Reibel GmbH (Germany)...... IV-515 416. Poliform S.N.C. Di Forni A. Ansaloni D. & C (Italy)...... IV-487 462. Reisgies Schaumstoffe GmbH (Germany) ...... IV-515 417. Poliuretanos SA (Spain)...... IV-487 463. Rejwa SAS (Italy) ...... IV-516 418. Poly Rima SA (Greece)...... IV-488 464. Resine Ufficio S.N.C (Italy)...... IV-516 419. Polydec Industries (France)...... IV-488 465. Resingomma S.N.C Di Zanon Fabrizio & C (Italy) ...... IV-516 420. Polyflex (India) Ltd. (India)...... IV-488 466. RHH Foam Systems, Inc. (USA) ...... IV-517 421. Poly-form Kunststofftechnik GmbH & Co Betriebs KG 467. Rigi Foam CC (South Africa) ...... IV-517 (Germany)...... IV-489 468. Ritokkusu Co., Ltd. (Japan) ...... IV-517 422. Polyformes Limited (UK) ...... IV-491 469. Riunite Imballaggi, SNC (Di Bonomo Sergio & C) 423. Polykem Klocke INH. Franc Stuekerjuergen (Germany).... IV-491 (Italy) ...... IV-518 424. Polymousse (Algeria)...... IV-492 470. Rivafoam BV (The Netherlands)...... IV-518 425. Polypag AG Flm Group (Switzerland)...... IV-492 471. Riverstar Enterprises, Ltd. (Hong Kong)...... IV-518 426. Polyroc SAS (France) ...... IV-492 472. Rmax, Inc. (USA) ...... IV-519 427. Polyschaum Packtechnik Und Isoliermaterial GmbH 473. Rocon Foam Products Ltd. (UK)...... IV-521 (Germany)...... IV-493 474. Rogers Corporation (USA)...... IV-522 428. Polytech –Verpackungen Wolfgang Huber (Germany)...... IV-493 Table 130: Annual Sales Analysis: 2003-2004 429. Polytex Skumplastfabrik ApS (Denmark)...... IV-494 (In US$ million) ...... IV-523 430. Porolon A/S (Norway) ...... IV-495 431. Prefabet-Lubartow SA Przedsiebiorstwo Prefabrykatow Table 131: Annual Sales Analysis by Business Budowlanych (Poland)...... IV-495 Segment:2003-2004 (In US$ million)...... IV-523 432. Premier Packaging (USA)...... IV-496 475. Rohm GmbH & Co., KG (Germany) ...... IV-526 433. Premo A/S (Denmark) ...... IV-497 476. Romay Ag (Kunststoff-/Sanitärtechnik) (Switzerland) ...... IV-527 434. Prima Foam (UK) ...... IV-497 477. Rosslite, Ltd (UK)...... IV-528 435. Pritex Limited (UK)...... IV-498 478. Rubber & Plastic Converters Ltd. (UK) ...... IV-528

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POLYMERIC FOAMS MCP-1174 A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS

479. Ruch Novaplast GmbH Co. KG (Germany)...... IV-529 502. Sembella GesmbH (Austria) ...... IV-567 480. S & S Plastics, Inc. (USA) ...... IV-530 503. Serpo NV (Belgium) ...... IV-568 481. Saint-Gobain Performance Plastics (USA)...... IV-533 504. Shanghai Plastics Engineering Centre (China)...... IV-570 Saint Gobain Performance Plastics (UK)...... IV-536 505. Shanghai Vita Inoac Polymer Product Co., Ltd. (China)..... IV-570 Saint-Gobain Performance Plastics (USA) ...... IV-536 506. Shenyang Huifeng Plastic Foam Fty. (China) ...... IV-570 482. Saitec (France)...... IV-537 507. Shinyang Tech Co., Ltd. (Korea) ...... IV-571 483. Sakalakis, J., SA (Greece)...... IV-538 508. Siderise Ltd. (UK)...... IV-572 484. Sandella Fabrikken A/S (Norway) ...... IV-538 509. Silpa Poliuretani S.R.L. (Italy)...... IV-572 485. Sanseki Chemical Works Co., Ltd. (Japan)...... IV-539 510. Silver Plastics GmbH & Co., Kg (Germany)...... IV-572 486. Sapronit (France) ...... IV-539 511. Simona AG (Germany) ...... IV-573 487. Sarna Plastec AG (Switzerland)...... IV-540 Simona U K Ltd (UK)...... IV-575 488. SBTN SA (France)...... IV-540 512. Sintesa Chemie GmbH (Germany)...... IV-576 489. Scan Plast A/S (Denmark) ...... IV-541 513. Sipa, SRL (Italy) ...... IV-576 490. Scanchemi Plastindustri ApS (Denmark)...... IV-541 Plastyrobel SA (France)...... IV-576 491. Scapa Deutschland GmbH (Germany) ...... IV-542 514. Sipla SA (Belgium)...... IV-577 492. Schäfer Elektrotechnik Und Sondermaschinen GmbH 515. Skandinavisk Skumindustri (Denmark)...... IV-577 (Germany)...... IV-542 516. Skumlok ApS (Denmark)...... IV-577 493. Sched-Pol Przedsiebiorstwo Produkcyjno- Handlowo- 517. SM Upholstery Ltd. (UK) ...... IV-578 Uslugowe (Poland) ...... IV-543 518. Somapack SA (France) ...... IV-578 494. Schela Plast A/S (Denmark)...... IV-543 519. Sonderhoff GmbH (Germany)...... IV-579 495. Schertler Verpackungen GmbH (Germany)...... IV-544 520. Spac, SpA (Italy)...... IV-579 496. Schlaadt-Plastics GmbH (Germany) ...... IV-545 521. Spectra Dynamics (UK) ...... IV-580 497. Schulze-Brakel GmbH Schaumstoff-Und Textilkonfektion 522. Splast Zaklad Przetworstwa Tworzyw Sztucznych Sp. z o.o. (Germany)...... IV-546 (Poland)...... IV-584 498. Sealed Air Corporation (USA)...... IV-547 523. Spumoflex S.A (Romania)...... IV-586 Table 132: Half Yearly Sales Analysis: 524. Stamp Spumas Fitas E Peas Tec Ltda (Brazil) ...... IV-587 2004-2005 (H1) (In US$ million)...... IV-547 525. Stanton (France)...... IV-588 Table 133: Half Yearly Sales Analysis by Business 526. Staub Formtech AG (Switzerland) ...... IV-589 Segment: 2004-2005 (H1) (In US$ million) ...... IV-548 527. Stehr GmbH (Germany)...... IV-589 Table 134: Annual Sales Analysis: 2003-2004 528. Stepan, Co. (USA) ...... IV-590 (In US$ million) ...... IV-548 529. Stiren S.R.L (Italy)...... IV-591 Table 135: Annual Sales Analysis by Business 530. Storopack Hans Reichenecker GmbH + CO. (Germany) .... IV-592 Segment: 2003-2004 (In US$ million)...... IV-548 531. Strukturplast A/S (Norway) ...... IV-594 Table 136: Annual Sales Analysis by Geographical 532. Styrapak Aust Pty Ltd (Australia)...... IV-595 Region: 2003-2004 (In US$ million)...... IV-548 533. Styrobud Firma Produkcyjno-Handlowo-Uslugowa J.Fingas & W.Wieczorek (Poland)...... IV-595 Table 137: Quarterly Sales Analysis: 2003-2004 534. Styrochem Finland OY (Finland)...... IV-596 (In US$ million) ...... IV-548 535. Styromax Sp.j. Przedsiebiorstwo Produkcyjno- Sealed Air Packaging (France) ...... IV-553 Handlowo-Uslugowe (Poland)...... IV-596 Sealed Air Packaging SA (Spain) ...... IV-553 536. Styropack Ltd. (England)...... IV-597 Sealed Air Packaging, SL (Spain)...... IV-554 537. Sundolitt Thermopack A/S (Denmark)...... IV-598 Sealed Air Verpackungen GmbH (Germany) ...... IV-554 538. Sundy Co., Ltd. (Thailand)...... IV-598 499. Sekisui Chemical Co., Ltd. (Japan)...... IV-555 539. Superlon Oy (Finland)...... IV-599 Table 138: Annual Sales Analysis: 2003-2004 540. Suprapack AG (Switzerland)...... IV-599 (In ¥ million)...... IV-556 541. Surfblanks Pty Ltd (Australia)...... IV-600 Alveo AG (Switzerland) ...... IV-560 542. Svenska Cellulosa Aktiebolaget SCA (Sweden) ...... IV-601 Alveo AG (Switzerland) ...... IV-564 SCA Packaging Flamingo (Denmark)...... IV-603 Alveo AG (Switzerland) ...... IV-564 543. Synthesia SA (France)...... IV-604 Alveo France SARL (France) ...... IV-564 544. T.F PLAST, SNC (Italy) ...... IV-605 Alveo GmbH (Germany) ...... IV-565 545. T.I.R SR..L (Italy)...... IV-605 Alveo SpA (Italy) ...... IV-565 546. T.R.E.C S.N.C (Italy)...... IV-606 Sekisui-Alveo SA (Spain)...... IV-565 547. Tagos, SRL (Italy)...... IV-606 500. Sell Plast Srl (Italy)...... IV-566 548. Taita Chemical Co., Ltd. (Taiwan)...... IV-607 501. Selmat Automotive Srl (Italy)...... IV-567 549. Taiwan Chao Yang Chemical Co., Ltd. (Taiwan) ...... IV-607

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POLYMERIC FOAMS MCP-1174 A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS

550. Takayasu Vinyl Co., Ltd. (Japan) ...... IV-608 588. Trexel, Inc. (USA) ...... IV-635 551. Tap Telion-Air-Pac Gesellschaft Fr Moderne 589. Trident Foams, Ltd (UK)...... IV-636 Verpackungenmbh (Germany)...... IV-608 590. Tsutsumi Industry Packing Co., Ltd. (Japan) ...... IV-637 552. Taracell (France)...... IV-609 591. Tvarovanie Pchz S.R.O (Slovakia)...... IV-637 553. Taylor Engineering And Plastics Ltd. (UK)...... IV-611 592. Tyrozell-Hartschaumerzeugung Gesmbh (Austria)...... IV-637 554. Technical Foam Services Ltd. (UK)...... IV-612 593. UFP Technologies, Inc. (USA) ...... IV-638 555. Technical Ventures, Inc. (Canada)...... IV-612 594. Ukrtermobud Ukrainian-German Jv Ltd. (Ukraine) ...... IV-639 556. Technisol Wijchen BV (The Netherlands)...... IV-613 595. Ultralon Products (New Zealand)...... IV-639 557. Tecno Spuma S.L (Spain) ...... IV-613 596. Unidek (France) ...... IV-640 558. Tecnomat, SRL (Italy) ...... IV-614 597. Uniplast, Snc (Italy) ...... IV-640 559. Tecrim Industrie Sarl (France)...... IV-614 598. Unitex Ltd. (UK)...... IV-641 560. Tekni-Plex, Inc. (USA) ...... IV-615 599. Universal Forme Cutting Pty., Ltd (Australia) ...... IV-642 Table 139: Annual Sales Analysis: 2003-2004 600. Ureblock SA DE C.V (Mexico) ...... IV-642 (In US$ million) ...... IV-615 601. Uro-Foam Ltd. (UK) ...... IV-643 Tekni-Plex Europe NV (Belgium) ...... IV-616 602. Uroprene (Russian Federation) ...... IV-643 561. Tentex AB (Sweden)...... IV-617 603. Uxem Schuimplastics BV (The Netherlands)...... IV-644 562. Tepol SA (Spain) ...... IV-617 604. Vauth&Sohn Gmbh & Co Kg (Germany)...... IV-645 563. Termo Organika SA (Poland) ...... IV-618 605. Vebel, SRL (Italy )...... IV-645 564. Termoformatura Nave, SNC (Italy) ...... IV-618 606. Vefer SpA (Italy) ...... IV-646 565. Textile Rubber & Chemical Company (USA)...... IV-619 607. Veriplast International Ltd. (UK)...... IV-647 566. Textron Automotive Ltd. (UK) ...... IV-621 608. VITO Irmen GmbH & Co. KG (Germany) ...... IV-650 567. Thai Polystyrene Co., Ltd. (Thailand)...... IV-622 609. Voltek - Div Of Sekisui America Corporation (USA)...... IV-655 568. Thai Union PU Co., Ltd. (Thailand) ...... IV-622 610. Von Berg Systeme GmbH & CO. KG (Germany)...... IV-656 569. Thames Valley Supplies Limited (UK)...... IV-623 611. VT Verpatec AG (Switzerland)...... IV-657 570. Thermecon Isolatie Nederland BV (The Netherlands)...... IV-624 612. Vulkan-Pravex Kyiv Plant, Privjsc (Ukraine) ...... IV-657 571. Thermisol BV (The Netherlands)...... IV-624 613. Vyatelast (Russian Federation) ...... IV-657 Thermisol Sweden AB (Sweden)...... IV-624 614. W. Mannering (London) Ltd. (UK)...... IV-658 572. Tinby A/S (Denmark) ...... IV-625 615. Weller Paper & Polythene Ltd. (UK) ...... IV-663 573. Tirupati Foams Limited (India)...... IV-626 616. Wen Huang Enterprise Co., Ltd. (Taiwan)...... IV-664 574. TNT S.N.C Di Tantolo Franco & Mauro (Italy) ...... IV-626 617. Western Industrial Insulation (UK) ...... IV-664 575. Toby Schaum GmbH Polyurethanverarbeitung 618. Western Plastics Ltd. (Ireland)...... IV-665 (Germany)...... IV-627 619. Wetropa Kunststoff-Verarbeitung GmbH & Co. KG 576. Toende S.L (Spain)...... IV-627 (Germany)...... IV-673 577. To-Jo Plast AS (Norway)...... IV-628 620. Woll, F.P., & Co. (USA)...... IV-673 578. Tokotsume Process Co., Ltd. (Japan)...... IV-628 621. Woodbridge Foam Corporation (Canada) ...... IV-674 579. Tomter SP J (Poland)...... IV-628 622. WSVK GmbH & Co. KG (Germany) ...... IV-674 580. Tongil Industries Co, Ltd. (Korea)...... IV-629 623. Wolny Jerzy (Poland)...... IV-675 581. Top-Seals Dichtungseinlagen GmbH (Germany)...... IV-629 624. Xtratherm Ltd. (Ireland)...... IV-675 582. Toray Industries, Inc. (Japan)...... IV-630 625. Yamada Chemical Industry Co., Ltd. (Japan) ...... IV-675 583. Torggler Chimica, SpA (Italy) ...... IV-632 626. Yannidis Bros SA Hermes-Hermichrom (Greece) ...... IV-676 584. Torii Chemical Industry Co., Ltd. (Japan)...... IV-632 627. Yecflex, SA (Spain) ...... IV-676 585. Toscana Gomma, SpA (Italy) ...... IV-633 628. Zachem S.A (Poland)...... IV-677 586. Toyo Tire & Rubber Co., Ltd. (Japan)...... IV-633 629. Zecchinato, SRL (Italy)...... IV-679 587. Travaux Etudes Et Recherches Sur Les Caoutchoucs 630. Zelu Chemie Chemische Fabrik Zeh GmbH (Germany) ..... IV-680 Et Les Plastiques (France)...... IV-634 631. Zucchini Fratelli, SRL (Italy)...... IV-682

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