Company News
November 29, 2021
Stepan Raising Rigid Polyol Prices
November 19, 2021
Dear Valued Customer:
Effective January 1, 2022, or as contracts allow, Stepan will increase the price for STEPANPOL®
and TERATE® Rigid Polyester Polyols used in the Americas by $0.09 per pound. This increase is
necessary due to the continued rapid inflation in costs associated with raw materials, manufacturing,
energy, labor, and transportation.
Due to the magnitude of cost increases in flame retardants, all STEPANPOL® and TERATE®
products containing flame retardant will increase by an additional $.19 per pound for a total of $.28
per pound.
We appreciate your support and value your continued business. Your Stepan sales representative
will be in contact with you to address any questions or concerns.
November 29, 2021
Stepan Increases CASE Polyol Prices
November 18, 2021
Dear Valued Customer
Due to the continued escalation of costs to manufacture products including raw materials,
transportation, labor and energy, the price of CASE Stepanpol® polyols in the Americas will increase
by up to $0.20/lbs depending on grades. This increase will be effective for all shipments on January
1, 2022 or as contracts allow.
Your Stepan Sales Representative will be in contact with you to address any questions or concerns.
We appreciate your support and value your continued business.
November 29, 2021
Stepan Increases CASE Polyol Prices
November 18, 2021
Dear Valued Customer
Due to the continued escalation of costs to manufacture products including raw materials,
transportation, labor and energy, the price of CASE Stepanpol® polyols in the Americas will increase
by up to $0.20/lbs depending on grades. This increase will be effective for all shipments on January
1, 2022 or as contracts allow.
Your Stepan Sales Representative will be in contact with you to address any questions or concerns.
We appreciate your support and value your continued business.
November 25, 2021
More Info on the Hexion Westlake Deal
Westlake Chemical to acquire Hexion’s epoxy business for $1.2bn
Author: Stefan Baumgarten
2021/11/24
HOUSTON (ICIS)–Westlake Chemical has entered into a definitive agreement to acquire Hexion’s global epoxy business for about $1.2bn, it said on Wednesday.
With the acquisition, expected to close in H1 2022, Westlake will “significantly expand” its integrated business by adding a downstream portfolio of coatings and composite products to its chloro-vinyls businesses, it said.
“The industries served by Hexion Epoxy are very attractive to Westlake and the business is expected to be a synergistic addition to Westlake’s existing businesses,” said Westlake’s CEO, Albert Chao.
He highlighted the role of epoxy in the light-weighting of structural components for automobiles and for renewable energy, particularly the composite blades used by wind turbines.
Hexion’s epoxy business produces epoxy resins, modifiers and curing agents for high-performance materials, coatings and composites.
The integrated business includes upstream base epoxy resins and intermediates delivered as liquid or solid epoxy resins, as well downstream specialty epoxy resins used in coatings and composites.
It has eight manufacturing facilities and five research and development labs located in Asia, Europe and the US, as well as tolling sites in Asia.
Based in Rotterdam, Netherlands, the epoxy business had sales about $1.5bn for the 12 months ended 30 September.
Westlake’s agreement to buy the business comes after Hexion announced late September that it was evaluating strategic options, including a spinoff of its epoxy-based coatings and composites business (Hexion Coatings and Composites), and an initial public offering (IPO) of its adhesives and versatic acids and derivatives product lines (Hexion Holdings).
In an interview with ICIS last week, Hexion’s CEO Craig Rogerson said that the company already filed an S-1 registration statement with the US Securities and Exchange Commission (SEC) for an IPO of the adhesives and versatic acids business for listing on the New York Stock Exchange.
Shares of Hexion currently trade on an over-the-counter (OTC) market.
In April, Hexion closed the sale of its phenolic specialty resins, hexamine and European-based forest products resins businesses to Black Diamond and Investindustrial for $425m.
Additional reporting by Joseph Chang
November 25, 2021
More Info on the Hexion Westlake Deal
Westlake Chemical to acquire Hexion’s epoxy business for $1.2bn
Author: Stefan Baumgarten
2021/11/24
HOUSTON (ICIS)–Westlake Chemical has entered into a definitive agreement to acquire Hexion’s global epoxy business for about $1.2bn, it said on Wednesday.
With the acquisition, expected to close in H1 2022, Westlake will “significantly expand” its integrated business by adding a downstream portfolio of coatings and composite products to its chloro-vinyls businesses, it said.
“The industries served by Hexion Epoxy are very attractive to Westlake and the business is expected to be a synergistic addition to Westlake’s existing businesses,” said Westlake’s CEO, Albert Chao.
He highlighted the role of epoxy in the light-weighting of structural components for automobiles and for renewable energy, particularly the composite blades used by wind turbines.
Hexion’s epoxy business produces epoxy resins, modifiers and curing agents for high-performance materials, coatings and composites.
The integrated business includes upstream base epoxy resins and intermediates delivered as liquid or solid epoxy resins, as well downstream specialty epoxy resins used in coatings and composites.
It has eight manufacturing facilities and five research and development labs located in Asia, Europe and the US, as well as tolling sites in Asia.
Based in Rotterdam, Netherlands, the epoxy business had sales about $1.5bn for the 12 months ended 30 September.
Westlake’s agreement to buy the business comes after Hexion announced late September that it was evaluating strategic options, including a spinoff of its epoxy-based coatings and composites business (Hexion Coatings and Composites), and an initial public offering (IPO) of its adhesives and versatic acids and derivatives product lines (Hexion Holdings).
In an interview with ICIS last week, Hexion’s CEO Craig Rogerson said that the company already filed an S-1 registration statement with the US Securities and Exchange Commission (SEC) for an IPO of the adhesives and versatic acids business for listing on the New York Stock Exchange.
Shares of Hexion currently trade on an over-the-counter (OTC) market.
In April, Hexion closed the sale of its phenolic specialty resins, hexamine and European-based forest products resins businesses to Black Diamond and Investindustrial for $425m.
Additional reporting by Joseph Chang
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