Hexion Specialty Chemicals To Enhance North American Composite Resins & Coatings Manufacturing, Customer Service
COLUMBUS, Ohio – (June 12, 2009) - Hexion Specialty Chemicals announced today that it is realigning its North American composite resins and coatings manufacturing operations to enhance service to customers while improving efficiency and managing costs.
As part of the realignment, Hexion will be modifying its manufacturing and distribution operations in Lynwood, California. Its plant in Carpentersville, Illinois, will be structured to focus on producing coatings and other specialty products.
Production of base composite resins and certain coatings currently made at these locations will be transferred to Hexion plants in Roebuck, S.C., Ennis, Texas, and Forest Park, Georgia, which currently make similar composite resins and coatings products.
In addition, the company also recently announced the business will move its customer service group to existing centers in Gahanna, Ohio, and Springfield, Oregon, to further enhance its operations.
“These changes will enable Hexion to simplify our operations and improve overall end-to-end service to our customers,” said Robert Nosal, Vice President, Global Dispersions for Hexion. “We will be investing in these facilities to facilitate this realignment and further position our operations for growth as the economy recovers.”
Nosal noted that the changes will not interrupt Hexion’s operations or services and that the transition should be completed by the end of the first quarter of 2010.
About Hexion Specialty Chemicals
Based in Columbus, Ohio, Hexion Specialty Chemicals serves the global wood and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries. Hexion Specialty Chemicals is controlled by an affiliate of Apollo Management, L.P. Additional information is available at www.hexion.com.
Forward Looking Statements
Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In addition, the management of Hexion Specialty Chemicals, Inc. (which may be referred to as “Hexion,” “we,” “us,” “our” or the “Company”) may from time to time make oral forward-looking statements. Forward looking statements may be identified by the words “believe,” “expect,” “anticipate,” “project,” “plan,” “estimate,” “will” or “intend” or similar expressions. Forward-looking statements reflect our current views about future events and are based on currently available financial, economic and competitive data and on our current business plans. Actual results could vary materially depending on risks and uncertainties that may affect our markets, services, prices and other factors as discussed in our 2008 Annual Report on Form 10-K, and our other filings, with the Securities and Exchange Commission (SEC). Important factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: economic factors such as the current credit crises and economic downturn and their related impact on liquidity and an interruption in the supply of or increased pricing of raw materials due to natural disasters; competitive factors such as pricing actions by our competitors that could affect our operating margins; and regulatory factors such as changes in governmental regulations involving our products that lead to environmental and legal matters as described in our 2008 Annual Report on Form 10-K, and our other reports, with the SEC.
Director, Investor Relations
Hexion Specialty Chemicals, Inc.
+1 614 225 2223
Peter F. Loscocco
Vice President, Public Affairs
Hexion Specialty Chemicals, Inc.
+1 614 225 4127