COLUMBUS, OH - Momentive Specialty Chemicals Inc. and PCCR USA Inc. have signed a definitive agreement for Momentive to sell its North American composites and coating resins business to PCCR USA, a subsidiary of Investindustrial, a European investment group with operations in specialty chemicals, resins and intermediates.

The Momentive business to be purchased by PCCR includes manufacturing locations in Carpentersville, IL; Ennis, TX; Forest Park, GA; and Lynwood, CA. The business had 2010 sales of approximately $230 million and employs 225 people.