PQ Corporation Completes Separation of Potters Industries

Malvern, Pennsylvania – PQ Corporation (PQ), a global producer of specialty chemicals and catalysts, announced today that it has successfully completed the previously announced separation and financing of Potters Industries, Inc. (Potters). Potters is a global producer of engineered glass materials serving the highway safety, polymer additive, metal finishing, and other specialty end markets. Potters raised more than $260 million in bank debt to finance the transaction. Proceeds of the financing were used to pay down debt under PQ’s credit facility. PQ and Potters will operate as separately-managed companies held by common owners: The Carlyle Group, INEOS Group and PQ management. In addition to facilitating the separation, the company’s new credit facilities give the company greater flexibility and enhances growth opportunities.

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About Potters Industries
Potters Industries (www.pottersbeads.com) is a leading producer of engineered glass materials serving the highway safety, polymer additive, metal finishing, and other specialty markets. Potters respects the environment by recycling over one billion pounds of glass each year, with worldwide manufacturing from 25 strategically located production points around the globe. Potters was founded in 1914 and acquired in 1977 by PQ Corporation, which was subsequently acquired by the Carlyle Group in July of 2007.

About PQ Corporation
PQ Corporation (www.pqcorp.com) is a leading producer of inorganic specialty chemicals and catalysts. The Company conducts operations through two principal businesses: the Performance Chemicals division, which develops, manufactures and sells high performance silicate-based specialty chemicals, and the Catalyst division, a leading producer of high performance catalytic Zeolites and Zeolite-based catalysts and polyolefin catalysts. The Company’s products are used in variety of applications in a diverse range of industrial and consumer end-markets. It is a global enterprise, operating in 19 countries on five continents and has one of the most comprehensive global manufacturing and distribution networks serving customers in the Company’s end-markets. PQ Corporation was founded in 1831, was acquired by the Carlyle Group in July of 2007, and was combined with INEOS Silicas in July of 2008.

About The Carlyle Group
The Carlyle Group is a global alternative asset manager with $106.7 billion of assets under management committed to 84 funds as of December 31, 2010. Carlyle invests across three asset classes - corporate private equity, real assets and global market strategies - in Africa, Asia, Australia, Europe, North America and South America focusing on aerospace & defense, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services, telecommunications & media and transportation. Since 1987, the firm has invested $68.7 billion of equity in 1,035 transactions. The Carlyle Group employs more than 990 people in 19 countries. Web: www.carlyle.com; Case Studies: www.carlylegroupcreatesvalue.com; Video: www.youtube.com/OneCarlyle

About INEOS Group
INEOS (www.ineos.com) is the world's fourth largest chemicals group and a leading manufacturer of petrochemicals, specialty chemicals and oil products. As of the end of 2010 it operates 15 businesses and with a production network spanning 61 manufacturing facilities in 13 countries, the group produces more than 40 million tonnes of petrochemicals and 20 million tonnes per annum of crude oil refined products (fuels) each year. INEOS employs 15,000 people and annual sales of around $40bn.

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