Momentive Specialty Chemicals Successfully Completes Start-up of New Coating Resins Plant in Thailand
Columbus, Ohio (April 23, 2013) – Momentive Specialty Chemicals Inc. (“Momentive Specialty Chemicals” or the “Company”) today announced the successful startup of its new plant in Chonburi, Thailand, which significantly increases its capacity to produce acrylic-based resins and service customers in Southeast Asia.
Following the successful start-up of the plant’s reactors, production is expected to gradually ramp up in the second quarter of 2013. The new plant significantly expands Momentive’s production of acrylic-based resins in the region and allows the Company to broaden its product offering in this important growth region. The site, which is located on land purchased by the Company in the Pinthong Industrial Estate Park, is capable of producing the latest generation of acrylic resins designed for use primarily in coatings, adhesives, and building and construction applications. In addition to production facilities, the new site includes product development and applications laboratories, as well as technical service and application support capabilities for customers.
“We are pleased to start up this new facility on-time and on-budget,” said Julia Harp, Senior Vice President. “The new facility positions us to grow rapidly in southeast Asia and we are excited to provide a broader range of acrylic resins to meet the needs of our valued customers.”
The Chonburi plant is the Company’s second addition to its Asia Pacific footprint in 2013. In March 2013, the Company also announced that it had opened a new plant in Tianjin, China. The Tianjin site produces a full range of amine curing agents and supports the global demand for high performance epoxy systems.
The Company plans to employ 30 people at the Chonburi plant when it becomes fully operational. The new Chonburi, Thailand, site replaces Momentive Specialty Chemical’s former, smaller plant in Samutsakorn, Thailand, which was a leased property. The company continues to maintain its sales and administrative offices in Bangkok.
About the Company
Based in Columbus, Ohio, Momentive Specialty Chemicals Inc. (formerly known as Hexion Specialty Chemicals, Inc.) is the global leader in thermoset resins. Momentive Specialty Chemicals Inc. 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. Momentive Specialty Chemicals Inc. is an indirect wholly owned subsidiary of Momentive Performance Materials Holdings LLC.
Momentive Performance Materials Holdings LLC (“Momentive”) is the ultimate parent company of Momentive Performance Materials Inc. and Momentive Specialty Chemicals Inc. Momentive is a global leader in specialty chemicals and materials, with a broad range of advanced specialty products that help industrial and consumer companies support and improve everyday life. Its technology portfolio delivers tailored solutions to meet the diverse needs of its customers around the world. Momentive was formed in October 2010 through the combination of entities that indirectly owned Momentive Performance Materials Inc. and Hexion Specialty Chemicals Inc. The capital structures and legal entity structures of both Momentive Performance Materials Inc. and Momentive Specialty Chemicals Inc. (formerly known as Hexion Specialty Chemicals, Inc.), and their respective subsidiaries and direct parent companies, remain separate. Momentive Performance Materials Inc. and Momentive Specialty Chemicals Inc. file separate financial and other reports with the Securities and Exchange Commission. Momentive is controlled by investment funds affiliated with Apollo Global Management, LLC. Additional information about Momentive and its products is available at www.momentive.com.
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