07 January 2009 11:35 [Source: ICIS news]
“These developments are disappointing but consummation of Huntsman-Hexion was always a condition of closing the Spolchemie purchase of the Hexion specialty resins business. This was clear to us from the start of the whole process,” said Paul Yianni, resins director at Spolchemie.
“We are on the look out for other strategic acquisitions or alliances. Other opportunities to rapidly expand our global reach are likely to present themselves,” he added.
Yianni said Spolchemie had “proven in this process that we have the financial and management capability to take on such a large and complex acquisition”.
Resources would now be focused on realising a new epichlorohydrin (ECH) plant in ?xml:namespace>
“Thanks to our cost structure, high quality products, excellent market reputation and focus on customer service, Spolchemie is well placed to weather the current financial crisis,” Yianni said, noting that the company operated its Czech liquid epoxy resin, bisphenol A (BPA) and ECH plants through the Christmas period.
Spolchemie gained the chance to acquire the Hexion unit when
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