Hexion to realign North American composite, resins operations

12 June 2009 22:50  [Source: ICIS news]

HOUSTON (ICIS news)--US producer Hexion Specialty Chemicals will transfer the production of base composite resins and certain coatings away from plants in California and Illinois to improve efficiency and manage costs, the company said on Friday.

Production of base composite resins and certain coatings currently made at Hexion’s plants in Lynwood, California, and Carpentersville, Illinois will be moved to plants in Roebuck, South Carolina; Ennis, Texas; and Forest Park, Georgia, which now make similar composite resins and coatings products.

“There will be some job reductions in Lynwood and Carpentersville, but I do not have specific figures as we are still working through the details,” said Peter Loscocco, vice president of public affairs for Hexion.

The Lynwood plant will be structured to focus on producing coatings and other specialty products, Hexion said.

The transition should be completed by the first quarter of 2010, the company said.

Earlier on Friday, Moody’s announced it had lowered Hexion’s default ratings and kept the company’s outlook as negative.

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By: Brian Ford
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