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Momentive sells North American composites business
BUSINESS Momentive sells North American composites business MOMENTIVE SPECIALTY Chemicals Inc is to sell its North American composites and coating resins business to PCCR USA, a subsidiary of European investment group Investindustrial. The terms of the agreement have not been disclosed. The Momentive business PCCR is purchasing includes manufacturing locations in Illinois, Texas, Georgia and California. It had 2010 sales of approximately US$230 million and employs 225 people, who are expected to join PCCR when the sale is finalised. “This business is an excellent fit with our existing operations in speciality chemicals and will
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provide us with a significant new presence in the North American marketplace in this industry,” says Andrea C. Bonomi, Chairman of Investindustrial. Investindustrial is an independent investment group with €2.1 billion (US$3.0 billion) in assets under management and offices in Europe, the USA and Asia. It also owns Italian company Polynt, a manufacturer of intermediate polymers and resins. Momentive Specialty Chemicals, based in Columbus, Ohio, specialises in thermoset resins. Momentive; www.momentive.com Investindustrial; www.investindustrial.com
Ticona increases Celstran production in China TICONA has announced it will nearly double production at its Celstran® long fibre reinforced thermoplastic (LFRT) manufacturing unit in Nanjing, China. Ticona is the engineering polymers business of speciality materials and chemical products producer Celanese. The Celstran LFRT manufacturing unit, part of the Celanese Nanjing Integrated Chemical Complex, came online in 2008 with an initial nameplate capacity of 5000 tonnes a year. Ticona expects to nearly double the unit’s annual capacity by the end of the fourth quarter this year. Celstran LFRT is an engineering thermoplastic which is used in a
variety of automotive applications, such as instrument panels. It is produced using pultrusion technology. The base resin can include polypropylene (PP), polyamide (PA) and polyurethane. “Based on the success of the first line in Nanjing, Ticona is ramping up production to meet the continued demand of this product by our global customers,” reports Michael Harding, global business line director LFRT. “With Celstran LFRT plants in strategic locations in the United States, Germany and China, Ticona is the only truly global supplier with the capacity to support customers worldwide.” Ticona; www.ticona.com
MAY/JUNE 2011
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provide us with a significant new presence in the North American marketplace in this industry,” says Andrea C. Bonomi, Chairman of Investindustrial. Investindustrial is an independent investment group with €2.1 billion (US$3.0 billion) in assets under management and offices in Europe, the USA and Asia. It also owns Italian company Polynt, a manufacturer of intermediate polymers and resins. Momentive Specialty Chemicals, based in Columbus, Ohio, specialises in thermoset resins. Momentive; www.momentive.com Investindustrial; www.investindustrial.com
Ticona increases Celstran production in China TICONA has announced it will nearly double production at its Celstran® long fibre reinforced thermoplastic (LFRT) manufacturing unit in Nanjing, China. Ticona is the engineering polymers business of speciality materials and chemical products producer Celanese. The Celstran LFRT manufacturing unit, part of the Celanese Nanjing Integrated Chemical Complex, came online in 2008 with an initial nameplate capacity of 5000 tonnes a year. Ticona expects to nearly double the unit’s annual capacity by the end of the fourth quarter this year. Celstran LFRT is an engineering thermoplastic which is used in a
variety of automotive applications, such as instrument panels. It is produced using pultrusion technology. The base resin can include polypropylene (PP), polyamide (PA) and polyurethane. “Based on the success of the first line in Nanjing, Ticona is ramping up production to meet the continued demand of this product by our global customers,” reports Michael Harding, global business line director LFRT. “With Celstran LFRT plants in strategic locations in the United States, Germany and China, Ticona is the only truly global supplier with the capacity to support customers worldwide.” Ticona; www.ticona.com
MAY/JUNE 2011
REINFORCEDplastics