Algol Chemicals expands to the Urals

ZAO Algol Chemicals is establishing a new location in Yekaterinburg, Russia.
Specialising in the distribution of industrial chemicals, this location will
represent the Algol Group´s easternmost base of operations. The main market
areas around Yekaterinburg are the Volga and Ural regions, but include also the
entire Asian part of Russia.

Fredrik Hansson, Area Manager for Russian operations, believes that the new
location represents a natural expansion within the vast and rapidly growing
Russian markets. According to Hansson, Algol Chemicals´clients in Russia
already extend all the way up to Siberia.

Practical arrangements are underway to open a new location. Plans are to
establish a sales office and storage facility in Yekaterinburg. The first local
Algol employee, Marina Gorobitsina, is already active. Gorobitsina is Product
Manager for white minerals and is assisting in the start-up of Algol´s new
facilities.

Yekaterinburg, previously Sverdlovsk, is situated on the eastern foothills of
the Central Urals on the Iset river. Yekaterinburg is the regional
administrative centre and a major industrial and university town. The city has
a population of 1.3 million.

ZAO Algol Chemicals was established as a subsidiary of Algol in 1996 under the
name ICR-Chemicals. The company has offices and storage facilities in St.
petersburg and Moscow and is headed by Managing Director Yuri Ivanov. The
company forms part of the Finnish Algol Group´s Algol Chemicals business area,
which has operations in Finland, the Baltic countries, Scandinavia and
Russia.

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