Epoxy
November 29, 2021
New Business Applications Booming
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
November 24, 2021
Westlake to Acquire Hexion Epoxy
Westlake to Acquire Hexion’s Global Epoxy Business
Leading global supplier of coatings and composites used in wind turbine blades and automotive structural components to expand Westlake’s chemicals portfolio November 24, 2021 06:45 AM Eastern Standard Time
HOUSTON–(BUSINESS WIRE)–Westlake Chemical Corporation (NYSE: WLK), today announced that it has entered into a definitive agreement with Hexion Inc. to acquire Hexion’s global epoxy business for approximately $1.2 billion. Based in Rotterdam, The Netherlands, Hexion’s epoxy business is an industry leader in the manufacture and development of specialty resins, coatings and composites for a variety of industries, including high-growth and sustainability-oriented end-uses such as wind turbine blades and light-weight automotive structural components. In the twelve months ended September 30, 2021, Hexion’s epoxy business had net sales of approximately $1.5 billion.
“Light-weighting is a critical feature for the manufacture of structural components for automobiles and for renewable energy, particularly the composite blades used by wind turbines, and epoxies are key ingredients for these sustainable products”Tweet this
With this transaction, which is anticipated to be completed in the first half of 2022 following customary closing conditions, Westlake will significantly expand its integrated business by adding a downstream portfolio of coatings and composite products to its leading chloro-vinyls businesses.
“Light-weighting is a critical feature for the manufacture of structural components for automobiles and for renewable energy, particularly the composite blades used by wind turbines, and epoxies are key ingredients for these sustainable products,” said Westlake President and Chief Executive Officer Albert Chao. “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. We look forward to welcoming the Hexion epoxy employees to the Westlake family and realizing the tremendous opportunities to grow the combined businesses.”
Hexion Epoxy is a global leading producer of epoxy resins, modifiers and curing agents for high-performance materials, coatings and composites. The fully-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. Hexion Epoxy operates globally on three continents with eight manufacturing facilities and five research and development labs located in Asia, Europe and the United States, as well as tolling sites in Asia.
About Westlake
Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, we provide the building blocks for vital solutions — from building products and infrastructure materials, to packaging and healthcare products, to automotive and consumer goods. For more information, visit the company’s web site at www.westlake.com.
November 24, 2021
Westlake to Acquire Hexion Epoxy
Westlake to Acquire Hexion’s Global Epoxy Business
Leading global supplier of coatings and composites used in wind turbine blades and automotive structural components to expand Westlake’s chemicals portfolio November 24, 2021 06:45 AM Eastern Standard Time
HOUSTON–(BUSINESS WIRE)–Westlake Chemical Corporation (NYSE: WLK), today announced that it has entered into a definitive agreement with Hexion Inc. to acquire Hexion’s global epoxy business for approximately $1.2 billion. Based in Rotterdam, The Netherlands, Hexion’s epoxy business is an industry leader in the manufacture and development of specialty resins, coatings and composites for a variety of industries, including high-growth and sustainability-oriented end-uses such as wind turbine blades and light-weight automotive structural components. In the twelve months ended September 30, 2021, Hexion’s epoxy business had net sales of approximately $1.5 billion.
“Light-weighting is a critical feature for the manufacture of structural components for automobiles and for renewable energy, particularly the composite blades used by wind turbines, and epoxies are key ingredients for these sustainable products”Tweet this
With this transaction, which is anticipated to be completed in the first half of 2022 following customary closing conditions, Westlake will significantly expand its integrated business by adding a downstream portfolio of coatings and composite products to its leading chloro-vinyls businesses.
“Light-weighting is a critical feature for the manufacture of structural components for automobiles and for renewable energy, particularly the composite blades used by wind turbines, and epoxies are key ingredients for these sustainable products,” said Westlake President and Chief Executive Officer Albert Chao. “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. We look forward to welcoming the Hexion epoxy employees to the Westlake family and realizing the tremendous opportunities to grow the combined businesses.”
Hexion Epoxy is a global leading producer of epoxy resins, modifiers and curing agents for high-performance materials, coatings and composites. The fully-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. Hexion Epoxy operates globally on three continents with eight manufacturing facilities and five research and development labs located in Asia, Europe and the United States, as well as tolling sites in Asia.
About Westlake
Westlake is a global manufacturer and supplier of materials and innovative products that enhance life every day. Headquartered in Houston, we provide the building blocks for vital solutions — from building products and infrastructure materials, to packaging and healthcare products, to automotive and consumer goods. For more information, visit the company’s web site at www.westlake.com.
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