Momentive Specialty Chemicals Inc. today announced plans to build a new plant in Chonburi, Thailand, which will increase its capacity to produce acrylic-based resins and service customers in Southeast Asia.
The new plant significantly expands Momentive’s production of acrylic-based resins in the region by tripling its capacity. The site, which is located on land purchased by Momentive in the Pinthong Industrial Estate Park, will produce a broad range of acrylic resins designed for use primarily in coatings, adhesives, and building and construction applications. In addition to production facilities, the new site will include product development and applications laboratories as well as technical service and application support capabilities for customers.
“This new plant reinforces our commitment to our valued customers in the region and is the next step in our global growth strategy,” said Julia Harp, Senior Vice President. “Upon completion, we will be positioned to significantly enhance our offerings of acrylic resins.”
Construction of the plant is underway and completion and commissioning is expected to occur in the first half of 2013. When fully operational the plant is expected to employ 30 people. Momentive’s existing, smaller plant in Samutsakorn, Thailand, which is a leased property, will be closed upon completion of the new facility. The company will continue to maintain its sales and administrative offices in Bangkok.
About the Company
Based in Columbus, Ohio, Momentive Specialty Chemicals Inc. (formerly known as Hexion Specialty Chemicals, Inc.) is the global leader in thermoset resins. Momentive Specialty Chemicals Inc. serves the global wood and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries. Momentive Specialty Chemicals Inc. is an indirect wholly owned subsidiary of Momentive Performance Materials Holdings LLC.
About Momentive
Momentive Performance Materials Holdings LLC (“Momentive”) is the ultimate parent company of Momentive Performance Materials Inc. and Momentive Specialty Chemicals Inc. Momentive is a global leader in specialty chemicals and materials, with a broad range of advanced specialty products that help industrial and consumer companies support and improve everyday life. Its technology portfolio delivers tailored solutions to meet the diverse needs of its customers around the world. Momentive was formed in October 2010 through the combination of entities that indirectly owned Momentive Performance Materials Inc. and Hexion Specialty Chemicals Inc. The capital structures and legal entity structures of both Momentive Performance Materials Inc. and Momentive Specialty Chemicals Inc. (formerly known as Hexion Specialty Chemicals, Inc.), and their respective subsidiaries and direct parent companies, remain separate. Momentive Performance Materials Inc. and Momentive Specialty Chemicals Inc. file separate financial and other reports with the Securities and Exchange Commission. Momentive is controlled by investment funds affiliated with Apollo Global Management, LLC. Additional information about Momentive and its products is available at www.momentive.com.
Contacts
Investors and Media:
John Kompa
614-225-2223
john.kompa@momentive.com
Michael Stahl
(+49) 172 269 1157
michael.stahl@momentive.com