TAGS: Epoxy Adhesives
Hexion Holdings Corporation announces the closing of the acquisition of the company by affiliates of American Securities for USD 30.00 per share in cash.
Hexion Holdings' net sales for the year ended December 31, 2021, were approximately USD 1.9 billion. Hexion is a leading global producer of adhesives and performance materials that enable the production of engineered wood products and other growing specialty materials. The company has 26 manufacturing facilities globally and approximately 1,300 employees.
Well Positioned for Long-term Growth
Commenting on the transaction, Craig Rogerson, chairman, president and chief executive officer of Hexion, said, “
We look forward to continuing to serve our valued customers and accelerating our next phase of growth under American Securities’ ownership. During 2021, we dramatically streamlined our portfolio through the sale of our epoxy, as well as phenolic specialty resins and European forest products, businesses. Going forward, we believe we are well-positioned for long-term growth.”
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Hexion is a market leader and leverages deep chemistry and application knowledge to support its customers in diverse end markets,” said Scott Wolff, a managing director of American Securities. “
Over time, the company has optimized its portfolio and transformed its operations, and we are thrilled to partner with Hexion to support the next chapter of the company’s growth.”
Source: Hexion