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Total Finalizes Acquisition Of Goodyear's Hydrocarbon Resin Business
September 12, 2005
Through subsidiaries Cray Valley and Sartomer, Total has finalized its acquisition of the Goodyear Tire & Rubber Company's petroleum hydrocarbon resin business. Announced in June, the agreement took effect on Sept. 1. With this transaction, Cray Valley/Sartomer acquires the Wingtack® family of tackifying resins, which enjoys a strong reputation in the industry and reported sales of approximately $80 million in 2004. The new Cray Valley/Sartomer petroleum hydrocarbon resin business is now ranked #3 in the world, with a comprehensive range of C5 and C9 resins and manufacturing operations in Carling, France, and Channelview and Beaumont, TX.