COLUMBUS, OH - Hexion Inc. announced results for the third quarter that ended Sept. 30, 2017. The company reported net sales of $914 million, a 12% increase versus the prior year, and a new $40 million cost reduction program.
“Hexion posted strong topline sales growth of 12% and volume gains of 9%, respectively, in the third quarter of 2017,” said Craig A. Rogerson, Chairman, President and CEO. “Our Segment EBITDA reflected continued year-over-year gains in our base epoxy resins, North American forest products resins, and global formaldehyde businesses, offset by challenges associated with the hurricanes and continued weakness in global wind energy demand. We saw sequential profitability growth in our specialty epoxy resins business driven by strong growth in our waterborne coatings business and stable wind energy volumes. In addition, we continue to position the company for profitable growth by strategically optimizing our cost structure and investing in our specialty portfolio.”