Momentive acquires stake in Australia resins jv

Morrison: Capitalizing on a rebound in forest-products market in Asia/Pacific. Momentive Specialty Chemicals has acquired Dynea Chemical’s (Hamina, Finland) 50% stake in a formaldehyde and urea formaldehyde resins joint venture with decorative surfaces supplier The Laminex Group. The jv, renamed Momentive Specialty Chemicals Australia (MSC Australia), supplies resins to Laminex. The jv had about $30 million in sales in 2011. Terms of the deal were not disclosed. “Laminex has been a long-time and valued customer. With five current Momentive Specialty...

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