Company Overview of Hexion Inc.
Hexion Inc. provides thermoset, specialty products, and technical support for a range of applications and industries worldwide. It operates in two segments: Epoxy, Phenolic and Coating Resins; and Forest Products Resins. The Epoxy, Phenolic and Coating Resins segment offers epoxy specialty resins, modifiers, and curing agents for use in the automotive, construction, wind energy, aerospace, and electronics industries; basic epoxy resins, such as solid epoxy resins and liquid epoxy resins for industrial coatings applications; bisphenol-A and epichlorohydrin products; and versatic acids and derivatives under the Versatic, VEOVA vinyl ester, and CARDURA glycidyl ester names, which are used in de...
180 East Broad Street
Columbus, OH 43215
Founded in 1857
Key Executives for Hexion Inc.
Chairman, Chief Executive Officer and President
Chief Financial Officer, Executive Vice President and Director
Executive Vice President and President of Epoxy, Phenolic & Coating Resins Division
Executive Vice President and President of Forest Products Division
Executive Vice President and General Counsel
Compensation as of Fiscal Year 2015.
Hexion Inc. Key Developments
Hexion Inc. Announces Successful Restart of Veova Vinyl Ester Plant in Moerdijk, Netherlands
Jul 27 15
Hexion Inc. announced that it has successfully restarted production of VeoVa vinyl ester products at its manufacturing facility at Moerdijk, Netherlands, which produces a variety of VersaticTM Acid Derivatives. As a result, Hexion has lifted its Force Majeure notice for VeoVa vinyl ester products declared in October 2014 due to a supplier outage.
Hexion Inc. and North American Composites Announces Distribution Agreement for Epoxy Resins in the United States
May 19 15
Hexion Inc. and North American Composites have announced a distribution agreement for epoxy resins in the United States. NAC will represent Hexion and its extensive line of epoxy resins, curing agents and modifiers, selling primarily into the composites market. Hexion's epoxy products are used in a wide range of automotive, aerospace, wind energy, mass transit and other applications, to provide weight savings and improve fire, smoke and toxicity properties. NAC's extensive experience in composite applications, along with technical sales team and commitment to customer service, are an excellent complement to Hexion's leading technology and will provide the ingredients for a successful partnership.
Hexion Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Capital Expenditure Guidance for the Year 2015
May 13 15
Hexion Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net sales of USD 1,079 million against USD 1,293 million a year ago. Operating income was USD 63 million against USD 58 million a year ago. Loss before income tax and earnings from unconsolidated entities was USD 11 million against USD 16 million a year ago. Net loss was USD 34 million against USD 18 million a year ago. Net cash from operating activities was USD 35 million against net cash used in operating activities of USD 102 million a year ago. Capital expenditures were USD 40 million against USD 34 million a year ago. The decline in net revenues were primarily driven by the strengthening of the U.S. dollar against most other currencies and lower selling prices from the decline in oil prices globally, which more than offset gains in specialty epoxy business. Total EBITDA was USD 127 million against USD 120 million a year ago.
The company continued to expect 2015 capital expenditures to be lower than capital spending in 2014.
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