What's New at Vi-Chem Corporation:

Vi-Chem Completes Buyout, Names New President
Deal Positions Auto Supplier for New Customers, Strong Growth

Grand Rapids, Michigan, January 27, 2004

Vi-Chem Corp. today announced that Leonard R. Slott has completed a buyout of the company and been named its president.

The Grand Rapids, Mich. manufacturer of thermoplastic elastomer and engineered vinyl compounds and alloys said that the buyout establishes the 22-year-old company as a stand-alone entity, severing its ties with Nicholas Plastics, Inc. Slott, who has served as vice-president and general manager of Vi-Chem for eight years, said that the company's long-time commitment to quality products and superior customer service would continue.

Slott plans to focus on expanding Vi-Chem's global sales reach, strengthening its research and development capabilities, and growing sales of its engineered TPEs and other plastic compounds to automotive and non-automotive markets.

"The company buyout is designed to position Vi-Chem for further growth within the automotive market," Slott said. "Although Vi-Chem has always operated as an independent company, our previous ties to Nicholas Plastics had created the perception of a conflict of interest with some potential customers. This management buyout will allow us to develop deeper and more expansive relationships with a broad range of automotive suppliers.

"I look forward to the challenges of leading Vi-Chem as a stand-alone company. Since I joined the Company, the industry has changed tremendously. The rise of new materials has paralleled an increase in their complexity. The industry has also experienced a strong emphasis on the recyclability of new products. I feel Vi-Chem is up to the task of becoming a technology leader in our industry."

In his new role as president, Slott will also focus on the new partnership with Limburgse Vinyl Maatschappij, a Belgian manufacturer and affiliate of Tessenderlo Group, to promote its proprietary materials for engineered slush molding products to the North American automotive market. Additionally, Vi-Chem is expanding its sales force in the Southeast and Northeast, as well as in Canada and Western Europe.

Slott, 48 and a native of Grand Rapids, joined Vi-Chem as materials manager in 1985 when the Company had a dozen employees. During the next two decades, he held positions of increasing responsibility as Vi-Chem grew and went through three major expansions of its manufacturing facility at 55 Cottage Grove Street SE in Grand Rapids.

After its most recent expansion, the Company has a 60/MM-lbs. capacity to manufacture engineered plastic compounds for a wide variety of applications, such as automotive interiors, exteriors, office furniture and appliances.

"Our customers continue to consolidate their supply base and maximize their purchasing dollars by exploring alternative materials that reduce costs while enhancing performance," Slott said. "Vi-Chem is committed to remaining on the front of the technology curve when it comes to developing new applications for our customers. We can bring incredible expertise in the automotive arena to our customers that are looking for ways to increase their competitive edge."

Prior to joining Vi-Chem, Slott worked for the Coca-Cola Bottling Co. in Grand Rapids, where he held numerous positions in logistics and management.

About Vi-Chem
Vi-Chem Corp. is a leading producer of thermoplastic elastomers and vinyl compounds for the automotive, office furniture, building and construction, and other industries. The Grand Rapids, Mich. manufacturer serves customer throughout North America, Europe and Asia, and holds cross-licensing agreements with companies in Belgium and France. Additional technical information on Vi-Chem is available at www.vichem.com or by contacting Vi-Chem's customer service department at either custserv@vichem.com or (800) 477.8501.
 

For Further Information Contact William K. Greer at Vi-Chem: wgreer@vichem.com

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