AccountGuest Edition My Account My Che.com Log In
Article
Email Email Print Print
Clip Clip & File

Only on Che.com :: Latest News

October 24, 2013

Momentive and Kanoria form JV for phenolic specialty resins in India

Mary Page Bailey

Momentive Specialty Chemicals Inc. (Columbus, Ohio; www.momentive.com) has announced that it has signed a non-binding Memorandum of Understanding (MOU) with Kanoria Chemicals & Industries Limited (Kanoria) to form a joint venture (JV) that would construct a new phenolic specialty resins plant in India at Kanoria's existing production facility at Visakhapatnam, Andhra Pradesh.
 
In addition, under the agreement, for a cash consideration, Kanoria would transfer its currently existing manufacturing facility in Visakhapatnam to the proposed JV, while Momentive Specialty Chemicals would provide technology supporting its specialty phenolic resins, formaldehyde and hexamine businesses, as well as its current business in India, to the JV. It is envisioned that both parties would have equal (50%) ownership of the JV. Under the MOU, the companies will work to identify and evaluate additional growth opportunities for specialty chemicals in such vertical markets as automotive, industrial and construction.

Add a Comment

Name:
Email:
Comments:

Please enter the letters or numbers you see in the image. (refresh)
 
 

Related Stories

LinkedIn Groups

Our LinkedIn group is now over 28,000 members strong!

  1. Join other CPI professionals from all over the globe and share best practices, expertise, concerns and more.
  2. Provide feedback to Chemical Engineering Editors


Current members represent Worley Parsons, DuPont, SABIC, Fluor, Air Products, LyondellBasell, Nalco, Dow Chemical, Dow Corning, BASF, Jacobs Engineering, ExxonMobil, Shell, Chevron and more.

Join Now



We also offer the following subgroup for more targeted discussions:

Tools
Search the Buyers' Guide

Plant Cost Index

Facts at Your Fingertips (archive)

Ask the Experts

Back Issues
X
To access this area, please log in or create an account.
Username:
Password:
Forgot your password?
Request it now.
Processing...
Live chat by BoldChat