News
Syntheon acquired by Headwaters

Dec. 14, 2012 — Syntheon, the Pittsburgh manufacturer of the Accel-E Steel Thermal Efficient Panel wall system and Elemix concrete additive, has been acquired by Headwaters and other private investors from Nova Chemicals for an undisclosed sum. The acquisition of all Syntheon shares became effective December 4, 2012.

Dec. 14, 2012 — Syntheon,
the Pittsburgh manufacturer of the Accel-E Steel Thermal Efficient Panel wall system and Elemix concrete additive, has
been acquired by Headwaters AG, LLC and other private investors from Nova
Chemicals for an undisclosed sum. The acquisition of all Syntheon shares became
effective December 4, 2012. The acquired Syntheon businesses encompass Accel-E, Elemix and the Syntheon
Chile operations, including its building products business and packaging
business.

“There are many fundamental forces which are transforming the construction
industry from being mainly a field-erected industry to an industry
characterized by highly engineered and energy-efficient materials, components,
assemblies and systems, which are manufactured and fabricated for high performance,” stated Christian Echavarria, president
and COO of Headwaters.

Ricardo Wiener Strauss, the former General Manager of Nova Chemicals
Chile Limitada, has been named CEO of Syntheon.

“The acquisition of the portfolio of businesses gives us a strong global
presence and foundation to build a premier enterprise,” stated Mr. Wiener
Strauss. “Our focus for Syntheon will be to create an innovative family of
products to provide a high-performing branded green envelope to the building
and construction industry and expand other business lines that leverage the
manufacturing assets of the company.”

The new Syntheon president for North America is Peter A. Humphrey, whose previous position with the company was director of design and engineering.
Mr. Humphrey has 22 years of experience in building and construction as both a
structural engineer and project manager.

“As part
of the strategic portfolio of building and construction products for Syntheon,
the Accel-E and Elemix product lines will accelerate the growth of the
business,” said Mr. Humphrey. “We are excited about the potential for these
innovative product solutions as part of our larger growth initiative in the
building and construction industry.”

Related Link

www.syntheoninc.com