Hexion Holdings Plans to Separate into Two Independent Companies
COLUMBUS, OH — Hexion Holdings Corp. recently announced its plan to separate into two independent companies. The two companies will be Hexion Holdings, composed of the company’s Adhesives and Versatic Acids™ and Derivatives product lines, and Hexion Coatings and Composites (US) Inc. (HCC), composed of Hexion Holdings’ former epoxy-based Coatings and Composites products. HCC will be renamed at a later date.
Hexion Holdings anticipates that the HCC separation transaction will be in the form of a distribution of 100% of the stock of HCC, a new and independent company to current holders of Hexion Holdings common stock and warrants. Upon completion of the HCC spin-off, current Hexion Holdings shareholders will own shares of both Hexion Holdings and HCC.