Momentive Specialty Chemicals Inc. Announces Purchase of Proppants Manufacturing Facility
COLUMBUS, Ohio - (January 9, 2014) - Momentive Specialty Chemicals Inc. (“Momentive Specialty Chemicals” or the “Company”) today announced that it has completed the acquisition of a resin coated proppants manufacturing facility located in Shreveport, Louisiana from CRS Proppants LLC. The Shreveport facility has annual capacity of approximately 450 million pounds and will continue to source Northern White frac sand from CRS Proppants LLC going forward.
“We are pleased to announce the acquisition of the Shreveport facility and continued growth of our specialty chemical portfolio,” said Jody Bevilaqua, Executive Vice President and President of Epoxy, Phenolic and Coating Resins Division. “As one of the world’s largest suppliers of resin coated proppants, this acquisition provides immediate capacity for us to meet the growing demand for our oilfield products and to expand the breadth and depth of our valued customer partnerships.”
“In addition to expanding our capacity, we believe this acquisition is strategic and enhances our integrated asset network,” said Jerry Borges, Senior Vice President, Oilfield Technology Group. “The Shreveport plant is centrally located in the Haynesville shale region for easy truck access and has dedicated rail facilities, which complements our existing footprint. Going forward, this facility will help us continue to provide our customers with some of the most advanced, high quality proppants in the industry.”
Momentive Specialty Chemicals’ Oilfield Technology Group is a leading provider of innovative technologies for the oil and gas industry. We offer well stimulation solutions with our advanced resin coated proppants and a variety of performance additives for oilfield applications. Our products also include production chemicals for foam control and demulsification along with hydrogen sulfide scavengers for crude oil and natural gas production. Momentive Specialty Chemicals is committed to enhancing its industry leadership and meeting its customers' specific application needs with a total solutions approach of quality products and services. Additional information is available at www.momentive.com/oilfield.
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., 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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