16.08.2010

Hexion Swings to Q2 Profit as Revenues Jump

Privately owned Hexion Specialty Chemicals said it swung to a second-quarter profit versus a year-ago loss as sales volumes and prices rose. Net income was $52 million in the quarter versus a net loss of $56 million a year ago as revenues jumped to $1.3 billion from $956 million. Lower expenses and an improved cost structure bolstered profit, partially offset by the impact from foreign currency, the company said. Sales volumes rose 30% from the prior-year period and 8 percent from the first quarter, aided by a recovery in Hexion's base epoxy business. more18.06.2010

Hexion's Oilfield Technology Group Opens New Resin Coating Plant

The Oilfield Technology Group (OTG) of Hexion Specialty Chemicals, has announced the startup of a new manufacturing plant and the opening of additional transload facilities to provide resin coated proppants to fracturing service companies and operators in the oil & gas industry. more17.05.2010

Hexion Specialty Chemicals Posts Q1 Loss

Privately held Hexion Specialty Chemicals posted a first-quarter loss, though revenue and demand for its products jumped. The company reported a net loss of $7 million compared with net income of $117 million for the same period last year, which included a large gain from early debt repayment. Revenue rose 28 percent to $1.17 billion, while volume rose 25%. more10.03.2010

Hexion Q4 Net Loss Narrows; Sales Drop

Privately held Hexion Specialty Chemicals said its fourth-quarter net loss narrowed sharply, helped in part by falling costs and improving volume. For the period, the company posted a net loss of $6 million compared with $921 million in the year-ago period. The year-ago period includes a one-time charge of $800 million the company paid to Huntsman as part of a settlement to cancel its plans to acquire that company. Hexion said its asset impairment costs and business realignment costs fell during the period. Revenue decreased 7.6% to $1.09 billion. more10.02.2010

Hexion Specialty Chemicals to Build Plant in Korea

Hexion Specialty Chemicals' board of directors has approved construction of a manufacturing plant in Onsan, Korea, to produce Cardura monomer, a Versatic acid derivative used as a key raw material in environmentally advanced paints and coatings. more