The Finnish group Dynea Chemicals sold its 50% stake in the Australian joint venture Dynea Australia to the US firm Momentive Speciality Chemicals on 4 January. The company was subsequently renamed Momentive Speciality Chemicals Australia. The Australian wood-based panels manufacturer Laminex still holds the other 50% shareholding. The joint venture makes formaldehyde and urea formaldehyde resins that are delivered to Laminex and other buyers in Western Australia. Momentive said that the firm employed 30 workers and generated revenues equalling around US$30m in 2011. Momentive Speciality Chemicals presently has five locations in Australia and New Zealand.
Source:
http://www.euwid-wood-products.com/news/wood-based-panels/single/Artikel/dynea-sells-joint-venture-stake-to-momentive.html
