US Momentive sells ink and adhesive resins unit to Harima

01 February 2011 15:51  [Source: ICIS news]

HOUSTON (ICIS)--Momentive Specialty Chemicals completed thesale of its ink and adhesive resins business to Harima Chemicals, the US-based company said on Tuesday.

Momentive did not disclose the sales price.

The business supplies resins and additives to companies that produce adhesives, aroma chemicals, synthetic rubber and specialty coatings, Momentive said.

The business has 11 plants and 650 employees, the company said. Sales were $279m (€204m) in 2009.

Momentive, formerly known as Hexion Specialty Chemicals, is owned by Apollo Management.

Harima is based in Japan and makes pine-based products, synthetic resins and paper chemicals.

($1 = €0.73)

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By: Al Greenwood
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