Hexion announced that it is working to complete a limited number of the necessary government approvals and other customary closing conditions to complete the sale of its Phenolic Specialty Resin, Hexamine and European-based Forest Products Resins businesses.  As a result, the company now expects the transaction to close on April 30, 2021. 

Meanwhile, the company also released its 2020 Sustainability Report highlighting its efforts and accomplishments in enhancing safety, efficiency, sustainability and social responsibility. 

“In a year that saw Hexion post its best safety and environmental performance in its history, as well as introduce formal sustainability goals, our Company made significant progress and pulled together like never before in 2020 to advance our strategic sustainability initiatives,” said Craig Rogerson, Chairman, President and Chief Executive Officer.

“I’d like to acknowledge the hard work and tremendous focus demonstrated by our associates in meeting the challenges associated with the global pandemic, while continuing to operate our manufacturing sites without interruption and serving our valued customers.  While we remain focused on continually improving our environmental, health and safety performance, their dedication drove the Company to a new level of safety excellence in 2020.  The introduction of formal sustainability goals in 2020 also strengthened our commitment to sustainable growth and delivering on our strategic approach of ‘Responsible Chemistry,’ which includes collectively supporting our associates, customers and communities.”