Hexion Inc.

Hexion Inc.
Name	Hexion Inc.
Type	Public
Industry	Chemical manufacturing
Founded	1899 (as part of predecessor firms)
Headquarters	Columbus, Ohio, United States
Key people	Christopher M. Connor (former chairman), Scott M. Anderson (CEO)
Products	Resins, adhesives, coatings, thermosets
Revenue	(varies by year)
Num employees	(varies)

Hexion Inc. is a global chemical company specializing in thermoset resins, adhesives, and chemical intermediates for industries such as coatings, composites, construction, and automotive. The company has evolved through mergers, acquisitions, divestitures, and restructurings tied to multinational firms and private equity transactions. Hexion's operations intersect with industrial supply chains, capital markets, regulatory agencies, and multinational customers across North America, Europe, and Asia.

History

Hexion's corporate lineage traces through a series of predecessor firms and transactions involving Borden, Inc., Hercules, Inc., Schulman, and Momentive Performance Materials. The modern entity emerged following a 2005 reorganization connected to Borden Chemical assets and later strategic moves involving Apollo Global Management and Blackstone Group. During the 2000s and 2010s, Hexion engaged in transactions with Oak Hill Capital Partners, Hexion Specialty Chemicals, Inc., and asset transfers with Basell Polyolefins and Westlake Chemical. The company's history includes public offerings and private ownership episodes interacting with the New York Stock Exchange and U.S. Bankruptcy Court proceedings. Hexion's global footprint expanded via acquisitions in China, Germany, Brazil, India, and Japan, and through partnerships with firms like Shell plc, Dow Chemical Company, BASF SE, and Celanese Corporation. Corporate leadership changes involved executives who previously served at DuPont, Ashland Inc., Hexion Specialty Chemicals, and Huntsman Corporation.

Products and Technologies

Hexion produces phenolic resins, epoxy curing agents, formaldehyde-based novolacs, and melamine-formaldehyde systems used in applications including wood adhesives, foundry binders, coatings, and composites. Its technologies relate to thermosetting chemistry developed alongside research at institutions such as Massachusetts Institute of Technology, University of Akron, Rensselaer Polytechnic Institute, Ohio State University, and University of California, Berkeley. Product lines connect to downstream manufacturers including IKEA, Ford Motor Company, General Motors, Boeing, and Airbus. Hexion's resin chemistries are applied in industries represented by trade groups like the American Chemistry Council, European Chemical Industry Council, Society of Plastics Engineers, and Composite Materials Handbook. The company has invested in process technologies analogous to those used by Eastman Chemical Company, SABIC, Evonik Industries, and Lanxess to optimize production of specialty phenolics, novolacs, and resin modifiers.

Corporate Structure and Operations

Hexion's corporate governance has involved boards and committees with directors drawn from corporations such as 3M, Chevron Corporation, Procter & Gamble, and Caterpillar Inc.. Operational sites include manufacturing facilities, technical centers, and logistics hubs across continents, paralleling networks used by ExxonMobil Chemical, LyondellBasell Industries, Mitsubishi Chemical Group, and Sumitomo Chemical. The company's supply chains interface with commodity providers including Dow Chemical Company, ExxonMobil, Shell plc, and specialty suppliers such as Clariant and Croda International. Hexion's sales channels reach distributors and OEMs like W.W. Grainger, Fastenal, Siemens, and ABB. Corporate finance and treasury activities have engaged banks and advisors including Goldman Sachs, J.P. Morgan Chase, Citigroup, and Bank of America Merrill Lynch.

Financial Performance and Markets

Hexion has reported revenues and profitability metrics influenced by feedstock prices, raw material inflation, demand from sectors such as automotive and construction, and currency fluctuations in markets like the Eurozone, China, Brazil, and India. The company's financial history includes interactions with rating agencies such as Moody's Investors Service, Standard & Poor's, and Fitch Ratings, and capital markets events involving Initial public offering considerations, bond issuances, and restructuring under Chapter 11 law frameworks. Market competitors include Huntsman Corporation, Momentive Performance Materials, BASF SE, Eastman Chemical Company, OMNOVA Solutions, and Kuraray Co., Ltd.. Hexion's performance is tracked by analysts at firms like Morgan Stanley, UBS, Deutsche Bank, and Credit Suisse and reported in trade publications such as Chemical & Engineering News, Plastics News, and ICIS.

Environmental, Health, and Safety Practices

Hexion operates under environmental regulations enforced by agencies including the United States Environmental Protection Agency, European Chemicals Agency, Occupational Safety and Health Administration, and national ministries in jurisdictions such as China and Brazil. The company's EH&S programs address emissions, waste management, exposure to chemicals like formaldehyde and phenol, and worker safety, with benchmarking against peers such as BASF SE, Dow Chemical Company, and DuPont de Nemours, Inc.. Hexion has implemented process safety management practices similar to industry frameworks promoted by American Petroleum Institute, Center for Chemical Process Safety, and International Labour Organization. Sustainability reporting aligns with standards from Global Reporting Initiative, Task Force on Climate-related Financial Disclosures, and the United Nations Global Compact.

Legal Issues and Controversies

Hexion's corporate record includes litigation, regulatory enforcement actions, and creditor negotiations involving entities such as U.S. Department of Justice, state environmental agencies, bondholders represented by Ad Hoc Committee groups, and counterparties in merger deals with Apollo Global Management and Blackstone Group. The company has navigated antitrust reviews by bodies including the European Commission and U.S. Federal Trade Commission in connection with transactions in resin and chemical markets. Controversies have involved site remediation responsibilities, product liability claims, and contract disputes with major industrial customers such as ArcelorMittal, Vestas, and Siemens Gamesa Renewable Energy.

Category:Chemical companies