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Borden Chemical Completes Acquisition of Bakelite AG
May 9, 2005
Borden Chemical, Inc., a leading supplier of thermoset and other high-performance resins, adhesives and specialty materials, has announced the completion of its acquisition of Bakelite AG from its parent company, Rutgers AG. The Bakelite business will continue to be headquartered in Iserlohn-Letmathe, Germany. The acquisition is integral to Borden Chemical's plan to form the world's largest producer of thermosetting resins and specialty materials by merging with Resolution Performance Products LLC and Resolution Specialty Materials LLC. Upon completion of those transactions, the new combined company will be named Hexion Specialty Chemicals, Inc. Including Bakelite, Borden Chemical now has 61 manufacturing locations throughout North and South America, Europe and Asia serving strategic global markets. Upon closing the merger with the Resolution companies, the combined Hexion Specialty Chemicals entity will have 86 manufacturing locations throughout the world.