Schenectady buys Solutia's German alkylphenolic resin line

02 July 2001 20:28  [Source: ICIS news]

HOUSTON (CNI)--Schenectady International said Monday it is purchasing Solutia's adhesive resin product line in Wiesbaden, Germany for an undisclosed sum.

Details of the deal were not provided. Calls to the company seeking additional information were not returned. St Louis, Missouri-based Solutia declined to comment on the sale.

A statement by Schenectady said the transaction involves resins based on alkylphenols and terpenes and mainly sold as components of solvent-based polychloroprene adhesives.

Said Steve Abba, vice president/polymer division of Schenectady: "This acquisition strengthens our performance resin business unit's global position in alkylphenolic resins and it capitalises on our company's backward integration in alkylphenol monomers."

Headquartered in Schenectady, New York Schenectady International is a private, family-owned company that produces specialty phenolic resins, electrical insulation products and alkylphenol intermediates.

By: Mike Sheridan
+1 713 525 2653

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