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Noveon sells solvent-based PU business to Soluol

By Patrick Raleigh, UT On-line news editor Cleveland, Ohio-Noveon Inc. has sold its solvent-based polyurethanes business to Soluol Chemical Co. Inc. of West Warwick, Richmond. Soluol manufactures PU resins, coatings and adhesives, and includes captive polyester polyols production capacity in its set-up. The sale is linked to a recently announced expansion of Noveon’s water-based PU coating products at Avon Lake, Ohio, said Kees Verhaar, the group’s vice president and general manager, Performance Coatings. Noveon chose to divest the solvent-based products rather than relocate them, to focus on our successful water-based polyurethane business,” explained Verhaar in a 26 Jan press statement. Water-based PU products are the fastest growing segment of the industry, he added.Noveon currently manufactures the solvent-based products at its Leominster, Massachusetts, facility. The group said it will work closely with Soluol to assure a smooth transition for customers over the next few months.”

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