Henkel Group Purchases Alba Adesivos From Hexion Specialty Chemicals
COLUMBUS, Ohio--(BUSINESS WIRE)--March 31, 2006--The Henkel Group and Hexion Specialty Chemicals announced today that Henkel has purchased Alba Adesivos, a consumer adhesives company based in Brazil, from Hexion Specialty Chemicals. Terms of the transaction were not disclosed.
Alba Adesivos is a leading Latin American producer of branded consumer and professional grade adhesives based in Boituva, Brazil. The company generated 2005 sales of $38 million and has approximately 140 employees. Its primary products include polyvinyl acetate adhesives, silicone sealants, contact cements and epoxy putty adhesives. Its branded products are sold to consumers and contractors through various distribution and retail outlets.
"Hexion's focus is on serving industrial markets and the Alba consumer business is not a strategic fit for us going forward. We are pleased for the business and its people that they will become part of the Henkel organization, a company focused on branded consumer products," said Hexion's Chairman & CEO Craig O. Morrison.
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About Hexion Specialty Chemicals
Based in Columbus, Ohio, Hexion Specialty Chemicals combines the former Borden Chemical, Bakelite, Resolution Performance Products and Resolution Specialty Materials companies into the global leader in thermoset resins. Hexion serves the global wood and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries. Hexion Specialty Chemicals is owned by an affiliate of Apollo Management, L.P. Additional information is available at hexion.com.