Hexion Inc. Announces Results for First Quarter of 2017
COLUMBUS, OH - Hexion Inc. has released results for the first quarter ended March 31, 2017. The company reported a decrease in net sales of $42 million, or 4%.
“Demand for our specialty products remained strong with overall Hexion sales and volumes gains of 6% and 8%, respectively, compared to the prior year and adjusted for our recent divestitures,” said Craig O. Morrison, Chairman, President and CEO. “While the lead lag impact of higher raw materials negatively impacted the first quarter by $5 million, we experienced strong momentum in our Forest Products Resins segment, which was able to partially offset raw material headwinds and softening market conditions in our specialty epoxy business. We expect improvement in our specialty epoxy business in the second half of 2017 as demand increases.”