Momentive Chemicals Completes Sales of North America Composites & Coatings Business

Momentive Specialty Chemicals Inc. announced today that it has completed the previously announced sale of its North American composites and coating resins business.

The business has been sold to to PCCR USA, a subsidiary of Investindustrial, a European investment group with operations in specialty chemicals, resins and intermediates.

The business includes manufacturing locations in Carpentersville, Ill., Ennis, Texas, Forest Park, Georgia, and Lynwood, Calif. The business has annual sales of approximately $230 million and employs 225 associates.