COLUMBUS, Ohio—Momentive Specialty Chemicals Inc. will change its name to Hexion Inc., effective Jan. 15.
Hexion was formed in 2005 through the merger of Borden Chemical Inc., Resolution Performance Products L.L.C. and the acquisition of Bakelite A.G., according to Hexion's website. It has grown through a number of acquisitions and is owned by Apollo Management L.P.—the same private investment firm that owns Momentive Specialty Chemicals and Momentive Performance Polymers Inc.
“We are pleased to leverage the rich legacy of the Hexion name, which already has significant recognition in the marketplace, and believe it better aligns with our company heritage,” Craig Morrison, chairman, president and CEO of Momentive Specialty Chemicals, said in a statement.
Momentive Specialty Chemicals produces thermoset resins worldwide, serving the global wood and industrial markets—such as construction, transportation, electronics and automotive—through a variety of technologies, specialty products and technical support.