Westlake Chemical Corporation has entered into a definitive agreement with Hexion to acquire their global epoxy business for approximately EUR 1.0 billion.
Based in Rotterdam, The Netherlands, Hexion’s epoxy business is an industry leader in the manufacture and development of specialty resins, coatings and composites for a variety of applications, including wind turbine blades and light-weight automotive structural components. In the twelve months ended September 30, 2021, Hexion’s epoxy business had net sales of approximately EUR 1.3 billion.
The transaction is anticipated to be completed in the first half of 2022 and following customary closing conditions, Westlake intends to significantly expand its integrated business by adding a downstream portfolio of coatings and composite products to its businesses.
