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2006-01-25 News Headlines
Hexion Specialty Chemicals
to acquire wax compounds business from Rohm and Hass
Global leader in thermoset resins, Hexion Specialty Chemicals, has signed
a definitive agreement to purchase the global wax compounds business of
Rohm and Haas Company.
Hexion Specialty Chemicals, Inc., the world’s largest producer
of thermoset resins, announced today that it has signed a definitive agreement
to purchase the global wax compounds business of Rohm and Haas Company
(NYSE: ROH).
Terms of the agreement were not disclosed. Closing is subject to governmental
approvals.
Under the agreement, Hexion will purchase Rohm and Haas Company’s
wax compounds technology and product lines, manufacturing equipment and
other business assets. The products include wax compounds for sheet-fed
and heat-set printing processes, as well as solvent-based compounds and
water-based wax emulsions, with applications in the printing inks and
coatings industries.
Rohm and Haas Company currently produces these materials in Semoy, France.
Hexion Specialty Chemicals will transfer production to its manufacturing
locations.
“We are excited to announce our plans to acquire the Rohm and Haas
Company’s wax compounds technologies and products. These technologies
will enrich our existing wax compounds product line and will allow Hexion
to bring a deeper and broader array of products and solutions to our customers,”
said Jeff Nodland, president of Hexion’s Coatings & Inks Division.
“The sale of our wax additives business to Hexion Specialty Chemicals
will allow Rohm and Haas to better focus its efforts on our core emulsions
technologies,” noted Luis Fernandez, Vice President and Business
Unit Director for Rohm and Haas Company’s Architectural and Functional
Coatings business.
About Hexion Specialty Chemicals, Inc.
Based in Columbus, Ohio, Hexion Specialty Chemicals combines the former
Borden Chemical, Bakelite, Resolution Performance Products and Resolution
Specialty Materials companies into the global leader in thermoset resins.
Hexion 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. Hexion Specialty
Chemicals is owned by an affiliate of Apollo Management, L.P. Additional
information is available at www.hexionchem.com.
Find
information about Hexion Specialty Chemicals Inc.
About Rohm and Haas Company
Rohm and Haas is a Philadelphia-based specialty materials company which
makes products for the personal care, grocery, home and construction markets,
and the electronics industry. The company had annual sales of approximately
$7.3 billion in 2004 with operations in 27 countries.
Find information about Rohm and Haas Company.
Special thanks to Rohm and Haas Company, Coatings Business Group, Carmen
Ferrigno, Communications Director.
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