Hexion to Sell Its Phenolic Specialty Resins and Hexamine Businesses

Hexion, Columbus OH, announced that it has entered into an agreement to sell its Phenolic Specialty Resins, Hexamine and European-based Forest Products Resins divisions to Black Diamond and Investindustrial for approximately $425 million. The transaction is expected to close in the first quarter of 2021 and affects 900 employees and 11 global manufacturing facilities. See Hexion