Hexion Specialty chemicals to buy Coatings and Adhesives business from Rhodia Group

Hexion Specialty chemicals to buy Coatings and Adhesives business from Rhodia Group
Hexion Specialty Chemicals, a manufacturer of thermoset resins for industrial uses, has signed an agreement to purchase the coatings and adhesives business unit of the Rhodia Group. The Rhodia business had 2004 sales of approximately €150 million, with approximately two-thirds coming from Europe. The business produces emulsion and powder latexes, which are used in decorative paint and by a variety of other industries.
The business, which includes eight production facilities and employs approximately 440 people will become part of Hexion’s coatings and inks division, a global leader in thermoset resins and materials serving diverse markets including coatings, inks and composites. The manufacturing facilities that will be acquired are located in Ribecourt and Bolbec, France; Leuna, Germany; Asua, Spain; Paulinia, Brazil; Clayton, UK; Boxhill, Australia; and Samutsakorn, Thailand.
“We are very excited about the complementary fit of these products with our existing product lines, in particular in waterborne technologies area. We also look forward to welcoming the associates of this business to the Hexion team once the transaction is complete,” said Jeff Nodland, president of Hexion’s coatings and inks division.