Michelman has acquired the 50% interest in Michelman Asia-Pacific Pte. Ltd. held by Drex-Chem Industries Pte. Ltd. Michelman Asia-Pacific, which opened in 1997 in Singapore as a 50/50 joint venture between Michelman and Drex-Chem, established a regional manufacturing facility for Michelman performance additives and coatings. The joint venture enabled Michelman to begin regional operations, develop an Asian strategy and grow sales. Michelman's acquisition was prompted by growing marketplace acceptance of its products, and the company expects prospects for sustainable growth to be enhanced further as a result of the acquisition.