Westlake completes acquisition of epoxy business

Westlake Chemical Corporation has completed the acquisition of Hexion global epoxy business for approximately USD 1.2 billion (ca. EUR 1 billion) in an all-cash transaction.

Offshore wind turbines.
The new work may help boost the development of polybenzoxazine-based coatings with long-term corrosion resistance in harsh marine environments.  Image source: marliesplatvoet - Pixabay (symbol image).

Based in Rotterdam, The Netherlands, the epoxy business, which will be branded as Westlake Epoxy, is an industry leader in the manufacture and development of specialty resins, coatings and composites for a variety of industries, including high-growth and sustainability-oriented end-uses such as wind turbine blades and light-weight automotive structural components.

“With this transaction, Westlake will significantly expand its integrated business by adding a leading downstream portfolio of coatings and composite products,” said Westlake President and Chief Executive Officer Albert Chao. “Light-weighting is a critical feature for the manufacture of structural components for automobiles and for renewable energy, particularly the composite blades used by wind turbines, and epoxies are key ingredients for these sustainable products.”

Fully-integrated business

The fully-integrated business includes upstream base epoxy resins and intermediates delivered as liquid or solid epoxy resins, as well downstream specialty epoxy resins used in coatings and composites. Westlake Epoxy serves numerous industries, including adhesives; aerospace; automotive; civil engineering and construction; composite and wind energy; electronics; electrical laminates; as well as marine and protective coatings.

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