Hexion Specialty Chemicals Completes Purchase of Ink & Adhesive Resins Business From Akzo Nobel
COLUMBUS, Ohio--(BUSINESS WIRE)--June 1, 2006--Hexion Specialty Chemicals, Inc., the world's largest producer of thermoset resins, announced today that it has completed its purchase of the global ink and adhesive resins business of Akzo Nobel.
The business produces resins used to manufacture inks for commercial printing and packaging, digital inks for laser and photocopier printing, and pressure sensitive adhesives used in tape and labeling applications. Its resins also are used in synthetic rubber, pigments, flooring, roadmarkings, diapers and other products. It will become part of Hexion's Performance Products and Inks Division.
"This acquisition further strengthens and diversifies our range of products and technologies, and expands our geographic footprint to help us effectively serve our global customer base," said Division President Sarah Coffin.
The acquired business includes manufacturing facilities in Maastricht, The Netherlands; Santo Varao, Portugal; Toronto, Canada; Concordia, Argentina; Mt. Maunganui, New Zealand; Fengkai, and Suzhou, China; Gunsan, Korea; and in the U.S., Baxley, Georgia and Matteson, Illinois.
The business has annual sales of approximately EUR 166 million and employs 560 associates. Its resin technologies include hard resins, alkyd resins, polyester resins, acrylic resins, resin solutions and vehicles, tackifier dispersions, and rosin esters.
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About Hexion Specialty Chemicals, Inc.
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 www.hexion.com.
Source: Hexion Specialty Chemicals, Inc.