Hexion Inc. Sells Additives Technology Group Business
COLUMBUS, OH - Hexion Inc. has sold its Additives Technology Group (ATG) business to MÜNZING CHEMIE GmbH (MÜNZING), a privately owned specialty additive company headquartered in Abstatt, Germany. The company received approximately $50 million in proceeds from the transaction, which is subject to customary post-closing adjustments.
The transaction involved the sale of two manufacturing sites located in Somersby, Australia, and Sungai Petani, Malaysia, along with certain intangible property. These sites produce a range of specialty chemical materials for the engineered wood, paper impregnation and laminating industries, including catalysts, release agents and wetting agents.