Hexion Inc. apprised of its intention to add phenolic resin capacity as the latest expansion of its adhesives and binders business at its Brimbank, Australia site. “As a global leader uniquely positioned in the Australia and New Zealand markets considering our significant manufacturing footprint, the new capacity is designed to meet the growing demand for phenolic resins that can serve in a variety of applications including as a component in fire-resistant cladding material for commercial, institutional and residential applications,” said Craig A. Rogerson, Chairman, President and CEO. “By developing adhesive solutions with low fire, smoke and toxicity (FST) properties, the investment is aligned with our ongoing commitment of providing sustainable products that are designed to improve safety in building materials. With our strengthened balance sheet, we remain committed to strategically deploying growth capital behind our specialty product lines in key growth regions. Targeted investments like these are expected to deliver fast paybacks for Hexion, contributing to greater earnings and cash generation over time.”Construction of the new reactor and associated infrastructure is expected to begin in early 2020 and is expected to come online in the first quarter of 2021. Hexion’s regional locations include: Brimbank, Australia; Brisbane, Australia; Hornby, New Zealand; and Mountview, New Zealand.For identifying growth opportunities in the Phenolic Resin Market Report: Trends, Forecast and Competitive Analysis, please visit.http://www.lucintel.com/phenolic-resin-market-2017-2022.aspx
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