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Rhodia signs an Agreement with the Hexion Specialty Chemicals Group for the Sale of its Latex business

Published on 2005-11-07. Author : SpecialChem

PARIS -- Rhodia announced the signature of an agreement for the sale to the US Hexion Specialty Chemicals Group of its Latex business activities (latex dispersions & powders and organic foam control agents). The divestment is expected to be completed by the end of this year once all the necessary legal authorizations have been obtained.

The latex dispersions & powders and organic foam control agents developed and marketed by Rhodia Coatis are chiefly used in the markets for decorative paints, specialty mortars used in the construction industry, and liquid adhesives. The Latex business is chiefly based in Western Europe but also enjoys strong positions in Asia, North & Latin America. It employs a total of almost 440 people worldwide and generated net sales of approximately €150m in 2004.

This disposal forms part of the campaign to divest non-strategic activities pursued by the Group with a view to refocusing its business portfolio.

Hexion Specialty Chemicals, an American chemicals group, is the world’s largest producer of thermosetting resins, commanding strategic positions across various end-markets and geographies. The Group chiefly serves the Adhesives and Coatings markets (industrial and decorative paints and coatings). Its corporate headquarters are based in Colombus, Ohio (USA). With 86 production and distribution units in 18 different countries – in North America, Europe and the Asia-Pacific region – the Hexion Group employs approximately 7,000 people and generated net sales of €4 billion in 2004.

Rhodia is a global specialty chemicals company recognized for its strong technology positions in applications chemistry, specialty materials & services and fine chemicals. Partnering with major players in the automotive, electronics, fibers, pharmaceuticals, agrochemicals, consumer care, tires and paints & coatings markets, Rhodia offers tailor-made solutions combining original molecules and technologies to respond to customers’ needs. Rhodia subscribes to the principles of Sustainable Development communicating its commitments and performance openly with stakeholders. Rhodia generated net sales of €5.3 billion in 2004 and employs 20,000 people worldwide. Rhodia is listed on the Paris and New York stock exchanges.

Source: Rhodia

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