08 April 2009 22:18 [Source: ICIS news]
SAO PAULO (ICIS news)--Hexion Specialty Chemicals will increase by threefold its investment in a new resin plant in southern ?xml:namespace>
The increase will bring Hexion's total investment in the plant to Brazilian reais (R) 110m ($50m) from R32.5m, according to the company.
The decision was based on a positive market scenario for the Brazilian state and proximity to buyers, which should reduce freight and transportation costs, company sources said.
As a result of the plant,
Hexion currently operates three other units in
($1 = R 2.22)
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