Momentive and UPC Technology Sign Definitive Deal for JV to Produce Phenolic Resins in China

Momentive Specialty Chemicals says it has signed a definitive joint venture agreement with specialty chemicals producer UPC Technology Corp. (Taipei) for the previously announced plans to build jointly a manufacturing plant to produce specialty phenolic resins at Zhenjiang, China. The two companies had signed a memorandum of understanding for the jv in May 2011. The new jv company has been named Momentive Union Specialty Chemicals, and construction of the jv plant is expected to begin in early 2012 after engineering design work and permitting is completed, and it...

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