Issue Date: August 7, 2006
Hexion sells plastics unit
Hexion Specialty Chemicals has sold its Italian engineering thermoplastics business, Taroplast, to Giuseppe Squeri & C. SpA for an undisclosed sum. The business includes plants in Pieveottoville and Soragna, Italy, and had sales last year of about $45 million. Hexion CEO Craig O. Morrison says the business, which the firm acquired as part of its 2005 purchase of Bakelite, was "our only thermoplastics operation and did not fit Hexion's strategic focus on thermoset resins and materials."
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