COLUMBUS, OH - Hexion Inc. announced results for the second quarter ended June 30, 2017.
“I’m excited to join Hexion and to capitalize on the opportunities in front of us,” said Craig A. Rogerson, Chairman, President and CEO. “We were pleased to post overall sales and volumes gains of 7% and 5%, respectively, compared to the prior year and adjusted for our recent divestitures. Results were highlighted by strong growth in our North American forest products business inclusive of our recently completed formaldehyde plants, which are expected to generate approximately $17 million of EBITDA in 2017. We also drove solid year-over-year EBITDA improvement in our oilfield proppants and base epoxy resins businesses in the second quarter of 2017. Our overall results reflected ongoing softness in our specialty epoxy resins business due to the slowdown in Chinese wind energy demand.”