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Hexion To Purchase Ink And Adhesive Resins Business From Akzo Nobel
December 5, 2005
Hexion Specialty Chemicals, Inc. has announced a recent offer to purchase the global ink and adhesive resins business of Akzo Nobel. The purchase price will be €88 million. Closing will occur upon successful completion of normal governmental reviews and consultations with employee works councils. The Akzo Nobel business produces resins used to manufacture inks for commercial printing and packaging, digital inks for laser and photocopier printing, and pressure-sensitive adhesives used in tape and labeling applications. Its resins are also used in synthetic rubber, pigments, flooring, roadmarkings, diapers and other products. Akzo Nobel's resin technologies include hard resins, alkyd resins, polyester resins, acrylic resins, resin solutions and vehicles, tackifier dispersions, and rosin esters. The business generated 2004 sales of approximately €166 million, about half in Europe and the rest in North and South America and the Asia-Pacific regions. It is comprised of 10 manufacturing facilities and 560 employees.