Per Astra Management Group general presentation

1. Per Astra
Management Group
Per Astra
Management Group
January 2010 1

2. Per Astra What do we offer?
Management Group
Senior
Blue Chip
Level
Pedigree
Team
Cross Proven
Functional Track
Team Record
Process Industries:
Specialty Chemicals
Renewable Energy
Oil & Gas
Presence Due
in all Diligence
Regions Experts
Asset
Transition
Sourcing
Managers
& Financing
January 2010 2

3. Per Astra Cross Functional Team
Management Group
Blue Chip
Senior Per Astra can offer you all operational
Pedigree
Level disciplines for the Process Industries
Team
 Senior Management - Strategy
Cross Proven
Functional Track  Commercial & Marketing
Team Process Industries: Record
Specialty Chemicals  Operations & Supply Chain
Renewable Energy  Research & Technology
Presence Oil & Gas Due
in all Diligence  Safety & Environmental compliance
Regions Experts
 Financial Control
Asset
Transition
Sourcing &  Human Resources
Managers
Financing
 Major Capital Project Management
January 2010 3

4. Per Astra A team that has proven track record
Management Group
Blue Chip
Senior Team assembled from Senior Chemical
Level
Pedigree industry experts
Team
 Former VPs & Directors from major chemical
Cross Proven companies
Functional Track
Team Process Industries: Record  ICI, CIBA, Huntsman
Specialty Chemicals  Senior level team that has delivered successful
Renewable Energy restructuring together
Presence Oil & Gas Due
 Huntsman Advanced Materials
in all Diligence
Regions Experts (Vantico for Matlin-Patterson)
 Created $1.5bn of equity value in 18 months
Asset
Transition
Managers
Sourcing &  Strategy & Implementation delivered by
Financing Per Astra team members
January 2010 4

5. Per Astra Due Diligence Experts
Management Group
Blue Chip
Senior Professionals with extensive track record
Level
Pedigree  Experience from of over a hundred deals
Team
 Specialist support for Private Equity acquiring in
Cross Proven
Functional
the process industries
Track
Team Process Industries: Record  Due diligence support
Specialty Chemicals
 Identification of key management strengths &
Renewable Energy weaknesses
Presence Oil & Gas Due
in all Diligence  Commercial & Operational review
Regions Experts
 Development of Strategy
Asset  Restructuring & Business plan
Transition
Sourcing &
Managers
Financing  Financial modeling
 Enterprise valuation
 Experienced in distressed debt situations
 Development of cut-over plans
 100 day implementation plan
January 2010 5

6. Per Astra Asset Sourcing & Financing
Management Group
Blue Chip
Senior Leverage its combined industrial and
Level
Pedigree financial networks to source investment
Team
opportunities
Cross Proven  Multiple points of access to businesses and
Functional Track
Team Process Industries: investments in transition
Record
Specialty Chemicals  Leverage relationships with investors to find
Renewable Energy both buyers and sellers of assets
Presence Oil & Gas Due  Operational experience provides a credibility
in all Diligence advantage with FINANCIAL INVESTORS
Regions Experts
 Operational experience provides a credibility
Transition
Asset advantage with INDUSTRIAL PARTNERS
Sourcing &
Managers  Investing background provides complex and
Financing
creative thinking with regard to financing options
and development of innovative solutions for
balance sheet and funding issues
January 2010 6

7. Per Astra Transition Management Support
Management Group
Blue Chip
Senior Able to provide senior management oversight
Pedigree
Level for acquisitions
Team
 Temporary management roles
Cross Proven
Functional  COO or Restructuring Manager
Track
Team Process Industries: Record  Temporary CEO until replacement is found
Specialty Chemicals
 Non-Executive board level support
Renewable Energy
Presence Oil & Gas Due  Short term functional expertise to deliver key
in all Diligence change
Regions Experts
 Carve-out and cut-over support
Asset
Transition  100 day plan delivery
Sourcing &
Managers
Financing  Oversee site closures
 Drive product re-qualification process
 Oversee capital projects
January 2010 7

8. Per Astra Presence in all Regions
Management Group
Blue Chip
Senior Global presence with team members in
Pedigree
Level Europe, USA and Asia
Team
Cross Proven Per Astra Limited provides a low cost umbrella
Functional
Process Industries:
Track company for all the services
Team Record
Specialty Chemicals  All team members are independent and are
Renewable Energy assembled to match the particulars of each deal
Presence Oil & Gas Due  You pay for what you use
in all Diligence
Regions Experts  The Per Astra back office costs are restricted to
company administration and invoicing
Asset
Transition
Sourcing &  There are no unallocated hours to be recovered
Managers through higher charge rates
Financing
 Boutique service tailored to the clients needs
January 2010 8

9. Per Astra Team Members
Management Group
Peter Bentley Team Leader - Location Monaco
Core Roles: Strategy, Business Valuation, Commercial, Purchasing, Manufacturing &
Supply Chain, Research & Technology, Licensing, Major Capital Projects,
Asset Review
Previously: Vice President for Global Operations (Huntsman Advanced Materials)
Vice President Research & Technology (Huntsman Advanced Materials)
Global New Business Development (Huntsman Polyurethanes)
Global Process & Technology Licensing Manager (ICI Polyurethanes)
Delivery: Appointed by Huntsman to support Matlin-Patterson with the acquisition of
Vantico (Specialty Chemicals Revenue $1.4bn):
 Led the operational and commercial review through due diligence
“Building a winning  Formulated the business plan for restructuring
team is a privilege - the  Restructured of the manufacturing footprint for the supply chain
skill is to get ordinary
people doing  Job reductions of 450 employees (approximately 25 %)
extraordinary things  Full closure of 4 sites and relocation of 25% of the products
together!”
 1’475 customer qualified products moved within 18 months
 Annual budget responsibility for $1bn of cost
 Sustainable reduction in the operating fixed costs by $75m per year
 EBITDA improved from -$32m to +$185m in 18 months
January 2010 9

10. Per Astra Team Members
Management Group
Andrew Welty Finance and Investor Relations – Location United States
Core Roles: Strategy, Transaction Sourcing, Investor Relationship Development,
Financial Due Diligence, Transaction Structuring, Financial Advisory
Previously: Portfolio Manager, Polygon Investment Partners
Director Credit Trading Products, Nomura International plc
Director of High Yield Research, Deutsche Bank
Delivery: Managed a multi-billion portfolio of debt, equity and hybrid investments across a
number of industries and locations:
 Was member of Polygon’s risk committee with insights to all aspects of the
firms risk taking and fiduciary responsibilities
 Acted as lead investor in global syndicated loan, high yield bond and private
“Finding the money is debt and equity financings
one thing - but getting
 Play key role in structuring several project financing business plans and
everyone comfortable
energy related business development investments
with what the story
really is, is what gets  Served on numerous credit committees during a corporate bankruptcy case
the deal done!” as well as numerous ad hoc bondholder committees
 Acted as the lead investor in numerous out of court corporate reorganizations
January 2010 10

11. Per Astra Team Members
Management Group
Dr. Anna Janas Environmental & Operations - Location Monaco
Core Roles: Due Diligence, Compliance, Sustainability, Carbon Management,
Asset review
Previously: Senior Environmental Consultant (RPS)
Environmental Consultant (WSP)
Post Graduate Researcher - Plant Physiology (University of Turin)
Delivery: Experienced due diligence lead for environmental & operational functions
Skilled linguist fluent in Italian, French, Polish, Spanish & English
Experienced in many process industries:
 Chemicals, power generation, coal mining, steel making, cement, ship
“Never say never - the building, food processing, pharmaceuticals, parts manufacture bio-mass and
experience lasts longer renewable energies, agro-business
than the hardship!”
Cultural aware - able to elucidate the facts from management teams unfamiliar
with developed country standards
Experienced in entrepreneurial settings
Established the Italian business for WSP setting up the Milan office
Good contacts with EBRD and IFC
Conducted studies in many challenging circumstances:
 Kazakhstan, Ukraine, Russia (including Siberia), Mongolia, China, Poland,
Moldavia
January 2010 11

12. Per Astra Team Members
Management Group
Rene Bender Financial Controls - Location Switzerland
Core Roles: Financial controls, ERP & System reviews, Business Model
Previously: Global Supply Chain Controller (Huntsman Advanced Materials)
Divisional Financial Controller & Analyst (Vantico)
Assistant VP - Consultant Corporate Accounting (KPMG Zurich)
Delivery: Experienced operational accountant with analytical skills mixed with the
pragmatism of operational necessity
Skilled in ERP systems - able to lead SAP implementation projects
Experienced in M&A activities and JV negotiations
“The luxury of time is Skilled linguist fluent in German, French, & English
present in a Swiss Good mix of entrepreneurial zeal and blue chip rigour.
watch - never in our
projects!” Appointed by Huntsman to the Supply Chain Leadership Team after the
acquisition of Vantico:
 Introduced fully absorbed costing methods to a complex supply chain
 Tracked the cost and programme for site closures and improvements
 Prepared supporting case for legal review of site closures in France
 Developed the business model to support moving 25% of all products
 Demonstrated reduction in the operating fixed costs by $75m per year
January 2010 12

13. Per Astra Team Members
Management Group
Dennis Farragher Operations & Supply Chain - Location USA
Core Roles: Manufacturing & Supply Chain, Major Capital Projects, Asset Review,
ERP & System reviews
Previously: Internet Consultancy (Owner)
Global Director Sales & Operations Planning (Huntsman Advanced Mats)
Global Director Manufacturing (Vantico)
US Manufacturing Director (CIBA)
Delivery: Experienced manufacturing professional with strong leadership skills
Skilled in ERP systems - able to lead SAP implementation projects
Good mix of entrepreneurial zeal and blue chip rigour
“Leave it with me - I’ll Running a successful internet consultancy improving company visibility
see what I can do…” on the net
(…and he always sorts Appointed by Huntsman to the Supply Chain Leadership Team after the
it out!) acquisition of Vantico:
 Introduced new operational planning methods to a complex supply chain
 Moved from Country selling offices to three regional sales offices
 Delivered logistics improvements through minimum order limits and
whole pallet selling techniques reducing shipping movements by 25%
January 2010 13

14. Per Astra Team Members
Management Group
Peter Littlewood Commercial & HR - Location Australia
Core Roles: Commercial, HR, Manufacturing & Supply Chain, Purchasing
Previously: Vice President, Formulated Systems (Huntsman Advanced Materials)
Vice President, Power & Electronics (Huntsman Advanced Materials)
Director & GM ICI Polyurethanes Australia & New Zealand (ICI)
European Business Manager Flexible Foam (ICI)
Delivery: Experienced commercial manager with many years in the specialty
chemicals sector
Spent most of the last decade working in Asia with Asia’s growth companies
Skilled manager of people with a background in HR
“Asia is an experience Grounding in HR gained from Austin Rover Group in the UK in the late
that gets built in front 80’s and ICI Fibres and Polyurethanes in the 90’s
of you… So much
belief that it can get Appointed by Huntsman to the Advanced Materials Leadership Team
after the acquisition of Vantico:
done means it does get
done!”  Responsible for global sales of all downstream products - an annual sales
revenue of $700m - serving the adhesives, aerospace, electrical, electronics,
automotive, military, medical and sports markets
 Developing and implementing commercial strategies to deliver high value
profitable growth in major & emerging economies, & application markets
January 2010 14

15. Per Astra Contact Details
Management Group
Per Astra
Management Group
Preliminary enquires: pbentley.perastra@monaco.mc
Telephone contact: +377 97 97 09 47
Mobile: +33 643 916 076
January 2010 15