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Arkema sells its Urea Formaldehyde Resins business to Hexion

30-May-2007

Arkema announces the sale to the company Hexion Specialty Chemicals of its Urea Formaldehyde Resins business, based on the Leuna site in Germany. The sale of this activity, which reports annual sales close to EUR 100 M, falls in line with Arkema's strategy for a selective management on its asset portfolio.

Announced in September 2006, the proposed sale of Arkema's Urea Formaldehyde Resins business has been confirmed by the signing of an agreement with the American company Hexion,. The deal, which should come into force in the third quarter of 2007, is subject to approval by antitrust authorities.

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