The business produces resins used to manufacture inks for commercial printing and packaging, digital inks for laser and photocopier printing and pressure sensitive adhesives used in tape and labeling applications. Its resins also are used in synthetic rubber, pigments, flooring, roadmarkings, diapers and other products. It will become part of Hexion's Performance Products and Inks Division.
"This acquisition further strengthens and diversifies our range of products and technologies, and expands our geographic footprint to help us effectively serve our global customer base," said Division President Sarah Coffin.
The acquired business includes manufacturing facilities in Maastricht, The Netherlands; Santo Varao, Portugal; Toronto, Canada; Concordia, Argentina; Mt. Maunganui, New Zealand; Fengkai and Suzhou, China; Gunsan, Korea; and in the U.S., Baxley, GA and Matteson, IL.
The business has annual sales of approximately €166 million ($213 million) and employs 560 associates. Its resin technologies include hard resins, alkyd resins, polyester resins, acrylic resins, resin solutions and vehicles, tackifier dispersions and rosin esters.