Hexion sells a polymers business

The specialty chemical maker Hexion is selling its performance adhesives and coatings business to the British firm Synthomer for $226 million. The business had $370 million in sales last year of polymer dispersions, additives, powder coatings, and monomers from seven sites across the U.S., Europe, and Asia. Synthomer, a maker of emulsion polymers, says the purchase will strengthen its position in the adhesives and coatings market.