Resins producer Hexion Specialty Chemicals (Columbus, Ohio / USA; www.hexionchem.com) and Momentive Performance Materials (Albany, New York / USA; www.momentive.com) have completed their planned merger, announced in September 2010 – see Plasteurope.com of 20.09.2010. The newly-formed “Momentive” is forecast to return an annual operating profit (EBITDA) of USD 1.24 bn (EUR 900m) from sales of around USD 7.5 bn a year. It has 117 production facilities worldwide with around 28% of its sales in the BRIC countries (Brazil, Russia, India and China), 33% in Europe and 39% in North America.

The new company is organised into three global business divisions: Epoxy, phenolic and coating resins; silicones and quartz; and forest products. Momentive Performance Materials and Hexion Specialty Chemicals will continue to file separate financial reports with the US Securities and Exchange Commission. The new parent company of Momentive and Hexion is now Momentive Performance Materials and Hexion Specialty Chemicals will change its name to Momentive Specialty Chemicals. The companies are controlled by investment funds affiliated with Apollo Global Management.