Michelman Acquires Wagers Corporation

CINCINNATI, OH (May 4, 2006) – Michelman, a leading global manufacturer of performance enhancing coatings, announces the acquisition of the Wagers Corporation. The transaction includes Wagers’ industry-renowned color coating products, inks, intellectual property, and sales. The addition bolsters Michelman’s already strong portfolio of water-based barrier, functional, and white coatings.

“We see our agreement with Wagers as an excellent opportunity to strengthen and improve the company’s position in decorative coatings and better serve our combined customer base.” said Dr. Richard Michelman, Vice President, New Business Development at Michelman. “Wagers has an excellent reputation. Its customers can rest assured we will continue to offer the same world-class service they’ve grown accustomed to, as well as innovative product solutions.”

To assure a smooth transition, key personnel from Wagers will be retained, and key factory assets will be relocated from Wagers to a stand-alone operation in Cincinnati, where Michelman is headquartered.

About Michelman
Michelman is a global developer of water-based barrier and functional coatings for flexible film packaging, paperboard, and corrugated cartons; and water-based surface modifiers, additives and polymers for numerous industries including wood care, industrial coatings, inks, fibers, composites, and construction products. Michelman serves its multinational and regional customers with production facilities in the U.S., Europe and Singapore, and a worldwide network of highly trained field technical support personnel.

Michelman Global Headquarters
9080 Shell Road
Cincinnati, OH 45236
1-800-333-1723 (US & Canada); (513) 793-7766 (Worldwide)
(513) 793-2504 (Fax)
www.michelman.com