Hexion acquires Rhodia's Latex business; Offer pending on Akzo Nobel's Ink and Adhesive Resins.
In related news, Hexion Specialty Chemicals Group has made an offer to purchase Akzo Nobel's Ink and Adhesive Resins business. The offer involves all assets and all current employees of the business, which employs about 560 people and has its global headquarters in Maastricht, Netherlands, along with production sites in seven countries including China, the U.S., and New Zealand.
When completed, the deal will represent the first major divestment by Akzo Nobel since it announced plans to realign its Chemicals portfolio in 2005.
"The acquisition of Akzo Nobel's Ink and Adhesive Resins business demonstrates Hexion's continued commitment to leadership in the global ink and adhesive resins industry," said Jeff Nodland, President of Hexion's Coatings and Inks Division. "The combination with Hexion's existing businesses will strengthen and diversify our product capabilities and allow Hexion to meet more effectively the existing and emerging requirements of our customers."
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|Title Annotation:||Business & Industry|
|Date:||Jan 1, 2006|
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