- The sale was completed for approximately $425 million in the spring.
- The Bakelite brand returned to Europe on May 1.
- Bakelite Synthetics has 11 manufacturing facilities and 900 employees worldwide.
- The divested portfolio includes phenolic specialty resins, hexamine, and forest products resins.
Transaction Overview
Hexion Inc. has completed the sale of its phenolic specialty resins, hexamine, and European-based forest products resins businesses to investment firms Black Diamond and Investindustrial for approximately $425 million. The transaction was finalized in the spring.
Bakelite Brand Returns
As part of the divestiture, the Bakelite brand has returned to Europe. Effective May 1, the brand name is now Bakelite Synthetics.
Global Operations
Bakelite Synthetics is headquartered in Louisville, Kentucky, and employs around 900 people across 11 manufacturing facilities worldwide. In North America, the company acquired Hexion's former phenol and commercial formaldehyde business, served by the Louisville, KY site, and the hexamine business, served by the Acme, N.C. site.
European Presence
In Europe, Bakelite Synthetics operates sites in Iserlohn and Frielendorf (Germany), Barry and Cowie (U.K.), Botlek (Netherlands), Lantaron (Spain), Solbiate (Italy), and Kitee (Finland). The company also holds Hexion's former interest in a joint venture with Shchekinoazot in Tula (Russia).
