Hexion Holdings Corp. has entered into an agreement to be acquired by affiliates of American Securities LLC. The transaction is expected to close in the first half of 2022, following and conditioned upon the closing of the company’s previously announced sale of its epoxy business to Westlake Chemical Corp.
Hexion remains a leading global producer of adhesives and performance materials that enable the production of engineered wood products and other growing specialty materials. The company has 27 manufacturing facilities globally and 1,300 employees.
Craig Rogerson, Chairman, President and CEO, comments, “This transaction, along with the pending sale of our epoxy business, is the conclusion of a comprehensive evaluation of strategic actions aimed at maximizing value for our shareholders and best positioning the company for long-term growth. American Securities has a proven track record of partnering with leading companies and its associates to drive collaborative success. Operating under American Securities’ ownership, Hexion Holdings has a bright future and is poised to build on its momentum and continue its record of delivering innovative, high-quality products and service to customers.”
Roseburg Forest Products has ordered a veneer dryer for its plant in Coquille, Ore. from Westmill. At 204 ft. length, the dryer will be the longest veneer dryer in North America, according to the participants. The 6-deck, steam-heated jet dryer is designed to dry the heaviest moisture Douglas fir, hemlock and spruce…
Article by Rich Donnell, Editor-In-Chief, Panel World January 2023 – Some forecasts coming out of APA—The Engineered Wood Association annual meeting in October painted a rather bleak economics picture for 2023. It was no surprise, given the already downward trending in housing…
Boise Cascade has announced plans to expand its South Carolina operations with a new facility in Walterboro, with a $9 million investment that will create 30 new jobs. This new facility marks Boise Cascade’s first distribution location and second facility…
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