Momentive Completes U.S. Composites and Coatings Sale

Momentive Specialty Chemicals the previously announced sale of its U.S. composites and coatings business to PCCR USA, a subsidiary of Investindustrial (Milan), a private equity firm. The business has sales of about $230 million, and facilities in Illinois, Texas, Georgia and California, with 225 employees. The terms of the deal were not disclosed.   Momentive Specialty Chemicals, formerly Hexion Specialty Chemicals, was formed when private equity owner Apollo Management (New York) merged Momentive Performance Materials with Hexion last year. The company...

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