Hexion Inc has reported net sales of US$819 million, a decrease of 15% compared with US$966 million in the prior year period.

‘While our total segment EBITDA declined slightly when adjusted for dispositions, a number of specialty businesses posted strong year-over-year gains, including Versatic Acids and Derivatives and our global forest products business, demonstrating the diversity of our differentiated product portfolio,’ said Craig O Morrison, chairman, president and CEO.

‘We recently announced a number of actions to further streamline the organization. This will provide a more unified focus across all of our business units, increase the overall speed of decision making and deliver additional savings by reducing corporate overhead costs.’

This story is reprinted from material from Hexion, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.