MT66

15 May 1995

BELGIAN CHEMICALS SUBSIDIARY TO EXPAND IN AUSTRALIA

Solvay Interox Pty Ltd, the Australian subsidiary of Solvay, a major Belgian chemical and pharmaceutical manufacturer, has committed itself to a continued program of investment in Australia, the Minister for Trade, Senator Bob McMullan, and the Minister for Industry, Science and Technology, Senator Peter Cook, said today.

Announcing Solvay Interox's multi-million dollar expansion of its Australian operations at a press conference in Brussels, Senator McMullan said the company has decided to progressively increase the manufacturing capacity of its hydrogen peroxide plant at Banksmeadow, Sydney, to 30,000 tonnes per year, double its current capacity.

"Solvay Interox's plant expansion incorporates the latest international technology, and reflects a strong commitment to excellence in operating performance, safety and the environment," Senator McMullan said.

"The project is expected to commence in the next few weeks, upon the granting of development approval, with the first stage due to be commissioned at the end of 1996."

Senator Cook said Solvay Interox's commitment is another example of Australia's attractiveness as an investment destination.

The Investment Promotion Program, managed by the Department of Industry, Science and Technology and Austrade, has been working closely with Solvay Interox on its expansion plans.

Solvay Interox is the major hydrogen peroxide producer in the world, with manufacturing units throughout Europe, the Americas and the Asia-Pacific region.

Hydrogen peroxide is used in a wide variety of industrial applications ranging from pulp and paper, textiles, chemical processing, minerals and mining, water treatment and disinfection, to detergents and plastics.

Mr George Valiukas, Managing Director of Solvay Interox Pty Ltd, said the company's expansion continues the policy of increasing capacity to meet customer needs.

"Solvay Interox has an ongoing commitment to provide an essential raw material to our customers, supported by our company focus on process development, design engineering and safety," Mr Valiukas said.

"The Banksmeadow plant expansion will allow us to do this more effectively."

Further information:

Senator McMullan's office: John Flannery, (06) 277 7420

Senator Cook's office: Norma Rainey, (06) 277 7580

Austrade: Peter Watts, (02) 390 2708

Solvay Interox Pty Ltd: Maris Derums, (02) 316 8000

JOINT STATEMENT Minister for Trade, Senator Bob McMullan Minister for Industry, Science and Technology, Senator Peter Cook _______________________________________________________________