29 July 2010 20:18 [Source: ICIS news]
NEW YORK (ICIS)--US-based Hexion Specialty Chemicals’ ink resins business is up for sale, sources in the financial community said on Thursday.
“The book is out and the sale process is in the second round of bidding,” said one source, referring to the collection of due-diligence documents that a for-sale firm makes available to potential buyers.
“It’s mostly financial buyers bidding,” he added.
Other sources in the financial community confirmed that the Hexion ink resins business is for sale. However, Hexion declined to comment.
The company’s ink resins business has around $300m (€231m) in annual sales, according to sources.
The business produces acrylic, polyamide, polyester and phenolic resins for printing inks.
Hexion is headquartered at ?xml:namespace>
($1 = €0.77)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|