US Momentive completes sale of composites and coating resins business

01 June 2011 15:32  [Source: ICIS news]

HOUSTON (ICIS)--Momentive Specialty Chemicals has completed the sale of its North American composites and coating resins business to PCCR USA, the US-based chemicals company said on Wednesday.

The composites and coatings business has annual sales of about $230m (€159m) and employs 225 workers at four production sites in the US.

Momentive had announced the divestment in April.

Financial terms were not disclosed.

The buyer, PCCR USA, is a subsidiary of Investindustrial, a European investment group with operations in specialty chemicals, resins and intermediates.

($1 = €0.69)

For more on Momentive and other producers, visit ICIS company intelligence

By: Stefan Baumgarten
+1 713 525 2653

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