Adhesives & Sealants Headlines / News / Raw Materials and Chemicals

Momentive to Form Specialty Resins Joint Venture

October 24, 2013
/ Print / Reprints /
ShareMore
/ Text Size+

Momentive Specialty Chemicals Inc. recently announced that it has signed a non-binding memorandum of understanding with Kanoria Chemicals & Industries Ltd. to form a joint venture that would construct a new phenolic specialty resins plant in India at Kanoria’s existing production facility at Visakhapatnam, Andhra Pradesh. In addition, for a cash consideration, Kanoria would reportedly transfer its currently existing manufacturing facility in Visakhapatnam to the proposed JV, while Momentive would provide technology supporting its specialty phenolic resins, formaldehyde and hexamine businesses, as well as its current business in India, to the JV. It is expected that both parties would have equal ownership of the JV.

“We are pleased to have the opportunity to partner with Kanoria, a leading manufacturer of chemical intermediates in India,” said Craig O. Morrison, chairman, president and CEO of Momentive. “India is a critical market for specialty chemicals, and the MOU represents another example of our commitment to strategically invest in the region.”

“The end markets for specialty phenolics and formaldehyde continue to grow rapidly in India, and the proposed JV would leverage the proven approach of combining technology and application development with world-class manufacturing expertise,” said R.V. Kanoria, chairman and managing director for Kanoria Chemicals.

For more information, visit www.momentive.com.

Did you enjoy this article? Click here to subscribe to Adhesives & Sealants Industry Magazine.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

ASI April 2014 Photo Gallery

Our April 2014 issue is now available!

Podcasts

ExxonMobil Tackifier Expansion

Dwight Tozer, vice president of ExxonMobil’s Adhesion Industry business, discusses the company’s latest tackifier expansion project with Editor-in-Chief Susan Sutton.

More Podcasts

Adhesives & Sealants Industry Magazine

ASI Sept 2014 cover

2014 September

Our September issue features articles focusing on high-tech applications and raw materials, as well as a preview of the ASC Fall Convention and Expo. Check it out today!

Table Of Contents Subscribe

THE ADHESIVES STORE

handbook-sealant-tech.gif
Handbook of Sealant Technology

The Handbook of Sealant Technology provides an in-depth examination of sealants, reviewing their historical developments and fundamentals, adhesion theories and properties, and today’s wide range of applications.

More Products

ASI 2014 Buyers GuideASI's Buyers' Guide

Annual purchasing resource for equipment used in the manufacture/formulation of adhesives, sealants, pressure sensitives, tapes and labels and for application of finished adhesives. 

Clear Seas Research

With access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

STAY CONNECTED

facebook_40px twitter_40  youtube_40pxlinkedin_40 google+ icon ASI 30px