The Resins and Versatics business is a major producer of bisphenol A and epichlorohydrin, and manufactures and markets a range of epoxy resins, curing agents and related materials for use in industrial coatings, automotive coatings, electronics, and other industrial applications. The sale reflects Shell’s plan to focus on major chemical products and basic petrochemicals.
Shell Announces Plan to Sell Resins, Versatics Unit
LONDON — The Royal Dutch/Shell Group of companies announced an agreement in principle for the sale of the group’s global Resins and Versatics business, a major supplier of epoxy raw materials, to an affiliate of Apollo Management L.P., a New York-based private investment firm. Marvin O. Schlanger, former president and CEO of ARCO Chemical Co., is the chairman designate of the new company that is acquiring the business. The purchase price was not disclosed.