News Markets & Companies
Hexion divests U.S. Gulf Coast formalin operations to Ancala
Hexion has sold its U.S. Gulf Coast formalin business to infrastructure investor Ancala, marking a further step in the company’s shift toward next-generation cellulosic performance materials.
Hexion has completed the divestiture of its formalin operations along the U.S. Gulf Coast, selling the business to independent infrastructure manager Ancala. The transaction includes production sites in Baytown, Texas, and in Luling and Geismar, Louisiana, along with multi-year customer agreements. Financial terms were not disclosed.
Ancala has established Valentra to operate the acquired facilities, staffed by the former Hexion teams to ensure operational continuity and customer support. Hexion will continue to supply formalin to markets outside the Gulf Coast region.
Strategic focus on next-generation materials
The sale aligns with Hexion’s strategic transformation toward technology-driven, cellulose-based performance materials for sectors such as construction, packaging, energy, transportation, and infrastructure. The company increasingly focuses on bio-based chemistry, advanced production technologies and digital process optimization.
According to CEO Michael Lefenfeld, the divestiture represents a key step in sharpening the company’s long-term focus on innovation-driven growth markets.
