Hexion Buys Arkema UF Resins Business

Hexion Specialty Chemicals says it has signed a definitive agreement to acquire Arkema’s urea-formaldehyde (UF) resins business for an undisclosed sum. Arkema announced last year that it planned to exit the UF resins business as part of a plan to manage its portfolio selectively (CW, March 22, 2006, p. 21). Arkema’s UF resins business manufactures formaldehyde and formaldehyde-based resins at Leuna, Germany. The business posted 2006 revenues of about €101 million ($136...

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