- #HEXIO LEVEL 40 REGISTRATION#
- #HEXIO LEVEL 40 PRO#
Hexion is expected to maintain appropriate debt levels going forward.
#HEXIO LEVEL 40 PRO#
Hexion Holdings generated historical net sales of $2.5 billion and pro forma net sales of approximately $1.4 billion for the year-ended December 31, 2020.
As a standalone company, Hexion Holdings is expected to have favorable cash flow attributes and a stronger financial profile. Hexion Holdings will continue to build on its strong momentum, driven primarily by strong new residential construction and remodeling demand in North America, continued capacity expansion progress and gains from innovative new products, as well as the need for more sustainable building and coatings materials. Hexion Holdings Building on strong momentum and aligned with growing demand for environmentally preferred building and coatings materialsįollowing the separation, Hexion Holdings will consist of the Company’s existing Adhesives and Versatic Acids™ and Derivatives product lines.
An investor base that is aligned with the streamlined value proposition for each company. Both businesses are expected to have direct access to the debt and equity capital markets to fund their respective growth strategies and A capital structure, dividend policy and capital deployment strategy tailored to specific business models and growth strategies. Distinct strategic and management focus on specific operational, R&D and growth priorities, including the analysis of macroeconomic trends and the implementation of financial targets that best fit each business. The Company believes that this separation will result in material benefits to the standalone companies, including: It is a testament to our people and our focus on operational execution that we have reached this successful milestone where our businesses are ideally positioned to be two strong standalone companies.” The transaction will provide each company with significant liquidity, a sharper strategic focus and appropriately capitalized balance sheets while we continue to serve our customers’ needs. With our recent strong performance, and after a comprehensive evaluation of strategic actions aimed at unlocking the value of our businesses, our Board and management team have determined that now is the right time to pursue a separation through an IPO and spinoff. “Today marks the beginning of an exciting new chapter in Hexion’s 122-year history, and continues our strategy of narrowing our focus, improving the Company’s financial flexibility and driving long-term value creation for our shareholders. Securities and Exchange Commission for a proposed initial public offering on the New York Stock Exchange.Ĭraig Rogerson, Hexion Chairman, President and Chief Executive Officer said: #HEXIO LEVEL 40 REGISTRATION#
As previously disclosed, Hexion Holdings will file a registration statement on Form S-1 with the U.S. Upon completion of the HCC spin, current Hexion Holdings shareholders will own shares of both Hexion Holdings and HCC. Hexion Holdings anticipates that the HCC separation transaction will be in the form of a distribution of 100% of the stock of HCC, a new and independent company to current holders of Hexion Holdings common stock and warrants.
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