Hexion Specialty Chemicals news

The $1.2B acquisition adds a leading portfolio of specialty resins, coatings, and composites, enhancing capabilities in high-growth, sustainable sectors like wind energy and lightweight automotive components.

The expansion will add 25,000 metric tons of annual ECH capacity, use biobased feedstocks, and reduce energy intensity. Completion is expected by late 2024.

The $425M sale includes 11 global sites and 900 employees. Bakelite Synthetics focuses on sustainable products, enhancing fire resistance, electric vehicles, and plant production.

The $425M deal includes $335M in cash. Hexion PSR, a top phenolic resins producer in Europe, operates 11 facilities. The transaction is set to close in Q1 2021.

The $226M acquisition, funded by cash and credit, enhances Synthomer's market position, adding 750 employees, 7 sites, and $370M in sales. Expected synergies are $12M by 2018 with $21M in costs.

The new 10,000 sqm facility will replace a smaller Stuttgart site, transferring 50 employees. It will produce epoxy resins for wind turbine blades, with potential for job growth and infrastructure improvements.