Momentive Specialty Chemicals Inc. and MicroBlend, Inc. Form a Joint Venture in Colombia
COLUMBUS, Ohio (August 5, 2013) – Momentive Specialty Chemicals Inc., (“MSC”) and MicroBlend, Inc., (“MicroBlend”) based in Gilbert, Ariz., have announced that they are forming a new joint venture company located in Cali, Colombia.
The new company, to be called MicroBlend Colombia S.A.S., will support MicroBlend’s revolutionary “Automated Paint Machine System®” (APM® System) with the necessary liquid components for making fresh paint at the point of sale in Colombian home center stores while occupying less than 120 square feet. The systems dispense the exact amount of raw material components and colorant to produce multiple qualities of interior and exterior latex paints and primers in any color and sheen. Retailers receive significant value by installing the MicroBlend systems, which enable them to significantly reduce inventory and floor space dedicated to their paint operations and offer their customers more choices in quality, size, sheen and color.
“The joint venture with MicroBlend is an exciting new expansion for our existing paint manufacturing business in Colombia,” says Dale Plante, President Forest Products Division, MSC. “The MSC facility in Cali, Colombia, will manufacture the pre-paint components specifically for the MicroBlend system.”
“MicroBlend systems have been working in Colombia for three years with great customer acceptance,” says Mel Sauder, President of MicroBlend, LATAM. “We were looking for a proven manufacturing partner to complement our expansion into Latin America and are excited for Momentive Specialty Chemicals to partner with us in this joint venture. Together we will be able to effectively supply and service the Colombia market with both APM® Systems and high-quality fresh paint.”
Retailers that have installed the MicroBlend systems have found that their customers appreciate the ability to select desired quality levels, applications, paint glosses, colors and container sizes for their projects and have exactly their paint always in stock. Everything is mixed automatically at the paint counter in the store, which provides the customer a highly customized experience at a good value.
About MicroBlend, Inc.
MicroBlend is an Arizona-based company that offers innovative paint systems and solutions for commercial and retail applications. The company has developed patented technologies and forged strategic partnerships which dramatically improve convenience, performance and service for the paint consumer. MicroBlend is revolutionizing the future of paint and paint products for general consumers, mass market retailers, contractors, homebuilders, resort and hospitality companies, industrial facilities and government complexes. For more information visit www.MicroBlend.com.
About Momentive Specialty Chemicals, Inc.
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.
Momentive Investor Relations
Manager, Public Affairs
MicroBlend, Thom Davis
Chief Marketing Officer
® APM is a registered trademark of MicroBlend