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April 27, 2015 11:52 PM ET

Chemicals

Company Overview of Hexion Inc.

Company Overview

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

United States

Founded in 1857

Phone:

614-225-4000

Key Executives for Hexion Inc.

Chairman, Chief Executive Officer and President
Age: 58
Chief Financial Officer, Principal Accounting Officer, Executive Vice President and Director
Age: 60
Executive Vice President and President of Epoxy, Phenolic & Coating Resins Division
Age: 58
Executive Vice President and President of Forest Products Division
Age: 56
Executive Vice President and General Counsel
Age: 56
Compensation as of Fiscal Year 2014.

Hexion Inc. Key Developments

Hexion Inc. to Unveil New Epoxy Resin Dispersion

Hexion Inc. will unveil a new epoxy resin dispersion that closes the cost versus performance gap between waterborne and solvent-borne technologies at the European Coatings Show in Nuremberg, Germany. EPI-REZ Resin 7520-WD-52 has been shown, in product testing, to deliver corrosion resistance and substrate adhesion comparable to solvent-borne epoxy coatings used in transportation and industrial applications. Additionally, EPI-REZ Resin 7520-WD-52 offers a shelf life of more than 12 months, which is longer than many competitive waterborne epoxy dispersions. Applications for the product include primers, mid-coats and direct-to-metal coatings for agricultural and construction equipment, for trucks and buses, or for shop-based industrial finishes.

Hexion Inc. Unveils Axilat HP 8530 Redispersible Polymer Powder

Hexion Inc. announced that it will unveil its new Axilat HP 8530 redispersible polymer powder, specially designed to make tile adhesives more flexible, durable and workable, at the European Coatings Show in Nuremberg, Germany. The unique formulation allows dry mix adhesive producers to meet the demands of today’s most challenging tiling applications, such as tile cladding on external insulation finishing systems, or heated flooring tiles. Axilat HP850 redispersible powder is a unique latex polymer based on Hexion’s VeoVa™ vinyl ester to keep volatile organic compound (VOC) emissions at low levels and help mortar producers meet the most stringent environmental standards, such as Emicode EC1+. In addition to helping manufacturers enhance their environmental profile, the unique vinyl acetate (VA)/VeoVa vinyl ester co-polymer delivers a variety of performance benefits. In benchmark testing against a terpolymer VA/Ethylene/Other redispersible powder-based mortar, an Axilat HP 8530 redispersible powder-based mortar provided increased slip resistance, better adhesion even after long exposure to water or heat, and longer open time on the job site.

Hexion Inc. Enters into an Indenture of Aggregate Principal Amount of 10.00% First-Priority Senior Secured Notes Due 2020

On April 15, 2015, Hexion Inc. (the Issuer or Hexion) entered into an indenture (the Indenture) among the Issuer, the guarantors party thereto (the Guarantors) and Wilmington Trust, National Association, as trustee (the New Trustee), governing the Issuer's $315,000,000 aggregate principal amount of 10.00% First-Priority Senior Secured Notes due 2020 (the Notes), which mature on April 15, 2020. The Notes were offered in the United States only to qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the Securities Act), and outside the United States, only to non-U.S. investors pursuant to Regulation S under the Securities Act. The Issuer will pay interest on the Notes at 10.00% per annum, semiannually to holders of record at the close of business on April 1 or October 1 immediately preceding the interest payment date on April 15 and October 15 of each year, commencing on October 15, 2015. The Issuer may redeem some or all of the Notes at any time on or after April 15, 2017 at redemption prices set forth in the Indenture. In addition, the Issuer may redeem in the aggregate up to 35% of the aggregate original principal amount of the Notes (which includes additional notes, if any) on or prior to April 15, 2017 at a redemption price of 110.00% plus accrued and unpaid interest and additional interest, if any, of the face amount thereof in an amount equal to the net proceeds of one or more equity offerings so long as at least 50% of the aggregate principal amount of the Notes (which includes additional notes, if any) remains outstanding after each such redemption. Prior to April 15, 2017, the Issuer may redeem some or all of the Notes at a price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to the redemption date and additional interest, if any, plus a make-whole premium.

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