Nov 7 2005
Rhodia has announced the signature of an agreement for the sale to the US Hexion Specialty Chemicals Group of its Latex business activities (latex dispersions & powders and organic foam control agents). The divestment is expected to be completed by the end of this year once all the necessary legal authorizations have been obtained.
The latex dispersions & powders and organic foam control agents developed and marketed by Rhodia Coatis are chiefly used in the markets for decorative paints, specialty mortars used in the construction industry, and liquid adhesives. The Latex business is chiefly based in Western Europe but also enjoys strong positions in Asia, North & Latin America. It employs a total of almost 440 people worldwide and generated net sales of approximately €150m in 2004.
This disposal forms part of the campaign to divest non-strategic activities* pursued by the Group with a view to refocusing its business portfolio.
http://www.rhodia.com