Hello

Welcome to our Newsletter No. 11.

The contentious and highly controversial buyout of Rohm & Haas by Dow Chemicals, which had run into a seemingly insurmountable road-block, appears to have been resolved – or so it seems! While Dow have not been able to extract a reduction in the purchase price per share, they have worked out an agreement that considerably reduces the immediate cash payout by getting the two major shareholders of Rohm & Haas to accept preferred equity stock in lieu of an all-cash deal. The transaction is now due to be completed by April 01, 2009 and the whole corporate sector is eagerly waiting to see it reach a final conclusion.

This week also marks the concurrent staging of Grafitalia, Converflex, IPACK-IMA and Plast at the Fiero di Milano Exhibition Complex in Milan, Italy between the 24th and the 28th of March, 2009. This is the first time that these expositions on the printing, converting, packaging, food processing, plastics and rubber industries are being combined under the umbrella of a single event that will be one of the largest of its kind in the world this year. We will be bringing you first-hand reports and coverage on this event over the next couple of weeks and in our next issue of PSA.

This newsletter also reports on the entry of the Murugappa Group, a major Indian conglomerate, into the burgeoning Flexible Packaging business with a greenfield state-of-the-art conversion facility in Gujarat.

Meanwhile please advertise on our websites and our email newsletters. In order to do this you can contact at +91-9999115816 and ads@ippgroup.in. European supporters may contact Michael Seidl in Vienna at +43-6764109330 or m.seidl@printernet.at.

Regards
S. Chidambar