Momentive acquires stake in Australia jv

Momentive Specialty Chemicals (MSC) has acquired Dynea Chemical’s 50% stake in a formaldehyde and urea formaldehyde resins joint venture with Laminex Group. The jv, now called Momentive Specialty Chemicals Australia, provides those products to Laminex, which owns the other half of the jv. The jv had about $30 million in sales in 2011 and employs 30 people. Terms of the deal, including financial details, were not disclosed.   “We are pleased to partner with Laminex on this transaction, which has been a long-time and valued customer. With five...

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