Hexion Specialty Chemicals To Invest in VERSATIC™ Acid Capacity
COLUMBUS, Ohio--(BUSINESS WIRE)--Sept. 19, 2006--Hexion Specialty Chemicals today announced it plans to debottleneck its VERSATIC(TM) Acid plant in Pernis, The Netherlands to increase plant capacity by more than 10 percent.
The capacity expansion will enable Hexion to meet increasing global demand for VERSATIC(TM)-based compounds including Acid, CARDURA(TM) Glycidyl Ester and VEOVA(TM) vinyl ester monomers for high quality polymeric binders. These materials are used in a wide range of specialty coating and adhesives applications. The project will be implemented at the next scheduled plant turnaround in the first quarter of 2007.
"This investment clearly underlines our commitment to profitably grow the Versatics business and strengthen our position as the global market leader," said Jorrit Klaus, vice president, Versatics. "This debottlenecking project fits very well with our plans to eventually expand our VEOVA(TM) vinyl ester monomer asset base."
About Hexion Specialty Chemicals, Inc.
Based in Columbus, Ohio, Hexion Specialty Chemicals is the global leader in Versatic Acid (TM) and derivatives. Hexion 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. Additional information is available at www.hexion.com.
Safe Harbor Language
Statements contained in this press release may include "forward-looking statements" about the Company's financial results under the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. Forward-looking statements are based on our currently available financial, economic and competitive data and on business plans. Actual results could vary materially depending on risks and uncertainties that may affect the company's operations, markets, services, prices and other factors as discussed in our filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental and technological factors. There is no assurance that the company's expectations will be realized. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as otherwise required by law.
Hexion Specialty Chemicals, Inc.
Jorrit Klaus, 31 10 295 4161
Peter Loscocco, 614-225-4127
John Kompa, 614-225-2223
Source: Hexion Specialty Chemicals, Inc.