Wrapping up the first round in the company’s transformation, the transfer creates the conditions necessary for the sale of the holding with its remaining product lines versatic acids and derivatives to affiliates of American Securities for $30 per share in cash. This deal is also scheduled to close during the 2022 first half, following receipt of all regulatory approvals and satisfaction of other customary closing conditions.

CEO Craig Rogerson said Hexion plans to “continue to build on its strong momentum, driven primarily by strong new residential construction and remodeling demand in North America, continued capacity expansion progress and gains from innovative new products, as well as the need for more sustainable building and coatings materials.”

Author: Dede Williams, Freelance Journalist