Rhodia Agrees to Sell Its Latex Business to Hexion

PARIS - Rhodia signed an agreement to sell its Latex business activities (latex dispersions and powders and organic foam-control agents) to Hexion Specialty Chemicals Group, Columbus, Ohio. The business is chiefly based in Western Europe but also enjoys strong positions in Asia, North America and Latin America. It employs almost 440 people worldwide and generated net sales of approximately €150 million in 2004.