The North American composites and coating resins business of Momentive Specialty Chemicals (Columbus, Ohio / USA; www.momentive.com) has been acquired by PCCR USA, a subsidiary of independent investment group Investindustrial (Luxembourg; www.investindustrial.com). Terms of the sale were not disclosed.

The business to be purchased produces unsaturated polyester resins and vinyl ester resins and includes manufacturing locations in Carpentersville, Illinois; Ennis, Texas; Forest Park, Georgia; and Lynwood, California. It had sales of approximately USD 230m in 2010 and employs 225 people. Momentive is said to be focusing on epoxy resins and silicons, both fields that deliver better margins.

As the holding company of Italy's Polimeri Speciali, Investindustrial has been the sole owner of the Polynt Group (Scanzorosciate, Bergamo / Italy; www.polynt.it) since 2008 – see also Plasteurope.com of 14.05.2008. In response to a Plasteurope.com query, a company spokesman said Investindustrial was not planning to integrate the erstwhile Momentive unit into Polynt, but would instead run it as a separate business.