April 29, 2016 6:10 PM ET

Chemicals

Company Overview of Hexion Inc.

Company Overview

Hexion Inc. provides thermosets, 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 d...

180 East Broad Street

Columbus, OH 43215

United States

Founded in 1857

5,100 Employees

Phone:

614-225-4000

Key Executives for Hexion Inc.

Chairman, Chief Executive Officer and President
Age: 59
Chief Financial Officer, Executive Vice President and Director
Age: 58
Executive Vice President and President of Epoxy, Phenolic & Coating Resins Division
Age: 59
Executive Vice President and President of Forest Products Division
Age: 57
Executive Vice President and General Counsel
Age: 57
Compensation as of Fiscal Year 2015.

Hexion Inc. Key Developments

Hexion Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Reports Assets Impairments for the Fourth Quarter Ended December 31, 2015

Hexion Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported net sales for the quarter ended December 31, 2015 were $909 million, a decrease of 22% compared with $1.16 billion in the prior year period. The decline in net sales were primarily driven by the strengthening of the U.S. dollar against most other currencies and lower selling prices from the decline in oil-driven feedstocks. On a constant currency basis, net sales would have decreased by 14% for the quarter. Operating income was $44 million against operating loss of $72 million a year ago. Loss before income tax and earnings from unconsolidated entities was $8 million against $159 million a year ago. Loss before earnings from unconsolidated entities was $14 million against $164 million a year ago. Net loss attributable to the company was $11 million against $157 million a year ago. For the year, the company reported net sales for the year ended December 31, 2015 were $4.1 billion, a decrease of 19% compared with $5.1 billion in the prior year period. The decline in net sales were primarily driven by the strengthening of the U.S. dollar against most other currencies and lower selling prices from the decline in oil-driven feedstocks, which more than offset gains in specialty epoxy resins. On a constant currency basis, net sales would have decreased by 11% for the year. Operating income was $260 million against $118 million a year ago. Loss before income tax and earnings from unconsolidated entities was $22 million against $222 million a year ago. Loss before earnings from unconsolidated entities was $56 million against $244 million a year ago. Net loss attributable to the company was $40 million against $223 million a year ago. Net cash provided by operating activities was $213 million against net cash used in operating activities of $50 million a year ago. Capital expenditures were $175 million against $183 million a year ago. EBITDA was $458 million. Adjusted EBITDA was $521 million. For the quarter, the company reported asset impairments of $6 million against $5 million a year ago.

Hexion Inc. to Report Q4, 2015 Results on Mar 14, 2016

Hexion Inc. announced that they will report Q4, 2015 results at 9:00 AM, Eastern Standard Time on Mar 14, 2016

Hexion Inc., Q4 2015 Earnings Call, Mar 14, 2016

Hexion Inc., Q4 2015 Earnings Call, Mar 14, 2016

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
March 21, 2016
Hexion Inc., Hexion Performance Adhesives & Coatings
Merger/Acquisition
November 9, 2015
Momentive Union Specialty Chemicals Ltd.
 

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