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NEW DEFINITIVE AGREEMENT TO PURCHASE GLOBAL WAX COMPOUNDS BUSINESS OF ROHM AND HAAS COMPANY
09 September 2006 - Rohm & Haas Co
| Hexion Specialty Chemicals, Inc., the world’s largest producer of thermoset resins, announced today that it has signed a definitive agreement to purchase the global wax compounds business of Rohm and Haas Company. |
Hexion Specialty Chemicals, Inc., the world’s largest producer of thermoset resins, announced today that it has signed a definitive agreement to purchase the global wax compounds business of Rohm and Haas Company.
Terms of the agreement were not disclosed. Closing is subject to governmental approvals.
Under the agreement, Hexion will purchase Rohm and Haas Company’s wax compounds technology and product lines, manufacturing equipment and other business assets. The products include wax compounds for sheet-fed and heat-set printing processes, as well as solvent-based compounds and water-based wax emulsions, with applications in the printing inks and coatings industries.
Rohm and Haas Company currently produces these materials in Semoy, France. Hexion Specialty Chemicals will transfer production to its manufacturing locations.
“We are excited to announce our plans to acquire the Rohm and Haas Company’s wax compounds technologies and products. These technologies will enrich our existing wax compounds product line and will allow Hexion to bring a deeper and broader array of products and solutions to our customers,” said Jeff Nodland, president of Hexion’s Coatings & Inks Division.
“The sale of our wax additives business to Hexion Specialty Chemicals will allow Rohm and Haas to better focus its efforts on our core emulsions technologies,” noted Luis Fernandez, Vice President and Business Unit Director for Rohm and Haas Company’s Architectural and Functional Coatings business.
http://www.rohmhaas.com/
About: Rohm & Haas Co
Rohm & Haas Co is a worldwide producer of speciality materials, with more than 100 plants and research facilities in 27 countries and company sales of approximately US$7 billion in 2004. The company's Adhesives and Sealants business, with annual sales of US$632 million, is a supplier of formulated adhesives, coatings and polymers for adhesives and sealants. It serves the packaging, converting, transportation, structural, construction and pressure-sensitive adhesives industries. |
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