13 August 2013 15:50 [Source: ICIS news]
HOUSTON (ICIS)--Momentive Specialty Chemicals’ phenolic specialty resins joint-venture plant in ?xml:namespace>
“Construction remains on track for the joint venture to be operational by the end of 2013,” William Carter told analysts during Momentive’s second-quarter earnings call.
Momentive is building the 80,000 tonne/year facility at
The companies broke ground on the project in October 2012.
Carter said that during the 2013 second quarter Momentive saw earnings gains in phenolic specialty resins, but those gains were offset by softer results in specialty and base epoxy resins and derivatives.
Overall, Momentive’s epoxy, phenolic and coating resins segment saw a 28% year-on-year decline in Q2 earnings before interest, tax, depreciation and amortisation (EBITDA) to $73m (€55m) as sales remained flat at $800m.
($1 = €0.75)
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