Westlake to acquire Hexion’s global epoxy business
Westlake Chemical Corporation has entered into a definitive agreement with Hexion to acquire Hexion’s global epoxy business for approximately USD 1.2 billion (ca. EUR 1.0 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 applications, including 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 USD 1.5 billion (ca. EUR 1.3 billion).
Transaction to be completed in the first half of 2022
With this transaction, which is anticipated to be completed in the first half of 2022 following customary closing conditions, Westlake intends to significantly expand its integrated business by adding a downstream portfolio of coatings and composite products to its lchloro-vinyls 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.
