04 January 2013 17:27 [Source: ICIS news]
HOUSTON (ICIS)--Momentive Specialty Chemicals said on Friday that its Australian subsidiary has acquired Dynea Chemicals' stake in a joint venture with Laminex.
Dynea Australia Pty is a 50:50 joint venture that provides formaldehyde and urea formaldehyde resins to Laminex and other productions to industrial customers in Western Australia.
Financial terms were not disclosed.
Momentive will provide the technology and run the daily operations of the joint venture, while Laminex will market and manufacture the decorative wood surfaces and provide the raw wood panels for the products.
The acquisition adds to Momentive’s forest products portfolio, with five current sites in Australia and New Zealand.
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