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{{Short description|American chemical company}}
{{Multiple issues|
{{Primary sources|date=March 2015}}
{{Primary sources|date=March 2015}}
{{notability|Companies|date=March 2015}}
}}

{{Infobox company
{{Infobox company
| name = Hexion Inc.
| name = Hexion Inc.
| logo =
| logo =
| caption =
| caption =
| type = Public
| type = Public
| traded_as =
| traded_as =
| fate =
| fate =
| predecessor = Momentive Specialty Chemicals, Borden Chemical
| predecessor = Momentive Specialty Chemicals, Borden Chemical
| successor =
| successor =
| foundation = <!-- {{Start date|YYYY|MM|DD}} -->
| foundation = 1899
| founder =
| founder =
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| location_city = Columbus, Ohio
| location_city = [[Columbus, Ohio]]
| location_country =
| location_country =
| locations =
| locations = ~ 66
| area_served =
| area_served =
⚫
| industry = Chemical
| key_people =
| products = Chemicals
⚫
| industry = Chemical
| products =
| services =
| revenue = ~ $3.8 billion (2019)
| services =
| revenue =
| operating_income =
| operating_income =
| net_income =
| net_income =
| assets =
| assets =
| equity =
| equity =
| owner =
⚫
| num_employees = 4,300<ref>{{Cite web|url=http://fortune.com/fortune500/hexion/|title=Hexion|website=Fortune|access-date=2019-02-08}}</ref>
| owner = [[Apollo Global Management]]
⚫
| num_employees = 4,300<ref>{{Cite web|url=http://fortune.com/fortune500/hexion/|title=Hexion|website=Fortune|access-date=2019-02-08}}</ref>
| num_employees_year = 2017
| num_employees_year = 2017
| parent =
| parent =
| divisions =
| divisions =
| subsid =
| subsid =
| homepage = {{URL|http://www.hexion.com/}}
| homepage = {{URL|http://www.hexion.com/}}
| footnotes =
| footnotes =
| key_people = Craig A. Rogerson (CEO)
| intl =
}}
}}
'''Hexion Inc.''' (Hexion)''',''' previously Momentive Specialty Chemicals Inc.,<ref>{{Cite web|url=http://fortune.com/fortune500/hexion/|title=Hexion|website=Fortune|access-date=2019-02-08}}</ref> is a chemical company based in Columbus, Ohio. It produces [[thermoset]] resins and related technologies and specialty products.
'''Hexion Inc.''' or '''Hexion''' (previously '''Momentive Specialty Chemicals''')<ref>{{Cite web|url=http://fortune.com/fortune500/hexion/|title=Hexion|website=Fortune|access-date=2019-02-08}}</ref> is a chemical company based in [[Columbus, Ohio]]. It produces [[thermoset]] resins and related technologies and specialty products.


Hexion is organized into two divisions: the Epoxy, Phenolic and Coating Resins Division, and the Forest Products Division.
Hexion is organized into two divisions: the Epoxy, Phenolic and Coating Resins Division, and the Forest Products Division.


Hexion offers resins for a wide range of applications like Abrasives, [[Adhesive]]s, Chemical Intermediates, [[Civil Engineering]], [[Coating]]s, Composites, Crop Protection, Electrical/Electronics, Engineered Wood, Fertilizers and Pesticides, Fibers and Textiles, Foams, Friction Materials, Furniture, Molding Compounds, Oilfield, Oriented Strand Board, Particleboard and Fiberboard, Plywood and Laminated Veneer Lumber and Refractories.
⚫
==Corporate structure==


⚫
== Corporate structure ==
Hexion was formed in 2005 through the merger of [[Borden (company)|Borden]] Chemicals, Resolution Performance Products, and Resolution Specialty Materials, and the acquisition of Bakelite AG. In 2010, the parent holding companies of Momentive Performance Materials Inc. and Hexion Specialty Chemicals Inc. merged to form Momentive Performance Materials Holdings LLC .<ref>{{Cite web|url=http://www.materialstoday.com/composite-industry/news/momentive-and-hexion-announce-merger/|title=Momentive and Hexion announce merger - Materials Today|access-date=2016-09-29}}</ref> In 2015, this combined company renamed itself to Hexion Inc. On the 1st of April, 2019 the company filed for bankruptcy according to chapter 11 of the Federal Bankruptcy Act. <ref>{{Cite web|url=http://www.businesswire.com/news/home/20141201005588/en/Momentive-Specialty-Chemicals-Renamed-Hexion-Early-2015|title=Momentive Specialty Chemicals Inc. to be Renamed Hexion Inc. in Early 2015 {{!}} Business Wire|website=www.businesswire.com|access-date=2016-09-29}}</ref>
Hexion Specialty Chemicals, Inc was formed in 2005 through the merger of [[Borden (company)|Borden]] Chemicals, Resolution Performance Products, Resolution Specialty Materials, and Bakelite AG. At that time they also acquired Pacific Epoxy Products.<ref>{{Cite web|title=Pacific Epoxy Polymers, Inc.|url=https://gracematthews.com/Case-Studies/Pacific-Epoxy-Polymers-Inc.htm|access-date=2022-02-11|website=gracematthews.com}}</ref> In 2010, the parent holding companies of Momentive Performance Materials Inc. and Hexion Specialty Chemicals Inc. merged to form [[Momentive|Momentive Performance Materials Holdings LLC]].<ref>{{Cite web|date=September 17, 2010|first=Amanda|last=Jacob|url=http://www.materialstoday.com/composite-industry/news/momentive-and-hexion-announce-merger/|title=Momentive and Hexion announce merger|work=Materials Today|access-date=2016-09-29|archive-date=2016-10-02|archive-url=https://web.archive.org/web/20161002120738/http://www.materialstoday.com/composite-industry/news/momentive-and-hexion-announce-merger/|url-status=dead}}</ref> In 2015, this combined company renamed itself to Hexion Inc.


In February 2020, Hexion Inc. announced that it has entered into a definitive agreement to sell its manufacturing site in Yumbo, Colombia to a joint venture led by Master Paints & Chemical Corporation.<ref>{{Cite web|url=https://finance.yahoo.com/news/hexion-inc-announces-sale-colombia-210300876.html|title=Hexion Inc. Announces Sale of Colombia Manufacturing Site|website=finance.yahoo.com|language=en-US|access-date=2020-02-25}}</ref><ref>{{Cite web|url=http://www.european-coatings.com/Markets-companies/Coatings-market/Hexion-announces-sale-of-Colombia-manufacturing-site|title=Hexion announces sale of Colombia manufacturing site|last=KG|first=Vincentz Network GmbH & Co|website=European Coatings|language=en-GB|access-date=2020-03-03}}</ref>

== Acquisition by Westlake ==
In February 2022, it was announced the company epoxy division acquisition by Westlake was complete.<ref>{{Cite web|date=February 2022|title=Westlake to Acquire Hexion's Global Epoxy Business|url=https://www.westlake.com/news/westlake-acquire-hexions-global-epoxy-business|website=Westlake}}</ref><ref>{{Cite web|title=Hexion Holdings Announces Agreement to Sell Epoxy Businesses to Westlake Chemical {{!}} Hexion|url=https://investors.hexion.com/news-releases/news-release-details/hexion-holdings-announces-agreement-sell-epoxy-businesses|access-date=2022-02-11|website=investors.hexion.com|language=en}}</ref><ref>{{Cite web|title=Westlake Chemical completes Hexion epoxy business acquisition|url=https://www.compositesworld.com/news/westlake-chemical-completes-hexion-epoxy-business-acquisition|access-date=2022-02-11|website=www.compositesworld.com|date=4 February 2022 |language=en}}</ref><ref>{{Cite web|url=https://cen.acs.org/business/mergers-acquisitions/Hexions-epoxy-unit-Westlake-Chemical/99/i44|title=Hexion's epoxy unit is going to Westlake Chemical|access-date=2022-02-11|website=cen.acs.org}}</ref>

==See also==
⚫
{{Portal|Ohio|Companies}}
* [[Epoxy]]
* [[Momentive]]


==References==
==References==
{{Reflist}}
{{Reflist}}

==Internal links==
* [[Formaldehyde]]


==External links==
==External links==
⚫
{{Portal|Ohio|Companies}}
* {{Official website|http://www.hexion.com/}}
* {{Official website|http://www.hexion.com/}}

{{Authority control}}


[[Category:Companies based in the Columbus, Ohio metropolitan area]]
[[Category:Companies based in the Columbus, Ohio metropolitan area]]
Line 63: Line 67:
[[Category:Apollo Global Management companies]]
[[Category:Apollo Global Management companies]]
[[Category:2005 mergers and acquisitions]]
[[Category:2005 mergers and acquisitions]]
[[Category:Companies that filed for Chapter 11 bankruptcy in 2019]]



{{Chemical-company-stub}}
{{Chemical-company-stub}}

Latest revision as of 10:03, 30 August 2023

Hexion Inc.
Company typePublic
IndustryChemical
PredecessorMomentive Specialty Chemicals, Borden Chemical
Founded1899
Headquarters
Columbus, Ohio
Number of locations
~ 66
Key people
Craig A. Rogerson (CEO)
ProductsChemicals
Revenue~ $3.8 billion (2019)
Number of employees
4,300[1] (2017)
Websitewww.hexion.com

Hexion Inc. or Hexion (previously Momentive Specialty Chemicals)[2] is a chemical company based in Columbus, Ohio. It produces thermoset resins and related technologies and specialty products.

Hexion is organized into two divisions: the Epoxy, Phenolic and Coating Resins Division, and the Forest Products Division.

Hexion offers resins for a wide range of applications like Abrasives, Adhesives, Chemical Intermediates, Civil Engineering, Coatings, Composites, Crop Protection, Electrical/Electronics, Engineered Wood, Fertilizers and Pesticides, Fibers and Textiles, Foams, Friction Materials, Furniture, Molding Compounds, Oilfield, Oriented Strand Board, Particleboard and Fiberboard, Plywood and Laminated Veneer Lumber and Refractories.

Corporate structure[edit]

Hexion Specialty Chemicals, Inc was formed in 2005 through the merger of Borden Chemicals, Resolution Performance Products, Resolution Specialty Materials, and Bakelite AG. At that time they also acquired Pacific Epoxy Products.[3] In 2010, the parent holding companies of Momentive Performance Materials Inc. and Hexion Specialty Chemicals Inc. merged to form Momentive Performance Materials Holdings LLC.[4] In 2015, this combined company renamed itself to Hexion Inc.

In February 2020, Hexion Inc. announced that it has entered into a definitive agreement to sell its manufacturing site in Yumbo, Colombia to a joint venture led by Master Paints & Chemical Corporation.[5][6]

Acquisition by Westlake[edit]

In February 2022, it was announced the company epoxy division acquisition by Westlake was complete.[7][8][9][10]

See also[edit]

References[edit]

  1. ^ "Hexion". Fortune. Retrieved 2019-02-08.
  2. ^ "Hexion". Fortune. Retrieved 2019-02-08.
  3. ^ "Pacific Epoxy Polymers, Inc". gracematthews.com. Retrieved 2022-02-11.
  4. ^ Jacob, Amanda (September 17, 2010). "Momentive and Hexion announce merger". Materials Today. Archived from the original on 2016-10-02. Retrieved 2016-09-29.
  5. ^ "Hexion Inc. Announces Sale of Colombia Manufacturing Site". finance.yahoo.com. Retrieved 2020-02-25.
  6. ^ KG, Vincentz Network GmbH & Co. "Hexion announces sale of Colombia manufacturing site". European Coatings. Retrieved 2020-03-03.
  7. ^ "Westlake to Acquire Hexion's Global Epoxy Business". Westlake. February 2022.
  8. ^ "Hexion Holdings Announces Agreement to Sell Epoxy Businesses to Westlake Chemical | Hexion". investors.hexion.com. Retrieved 2022-02-11.
  9. ^ "Westlake Chemical completes Hexion epoxy business acquisition". www.compositesworld.com. 4 February 2022. Retrieved 2022-02-11.
  10. ^ "Hexion's epoxy unit is going to Westlake Chemical". cen.acs.org. Retrieved 2022-02-11.

External links[edit]


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