COLUMBUS, Ohio--(BUSINESS WIRE)--Hexion Inc. ( Hexion or the Company ), in partnership with OAO Shchekinoazot, a large Russian industrial chemicals producer, announced the opening of a second reactor as part of their joint venture manufacturing facility located near Tula, Russia.
We are pleased with the progress of this joint venture to date. Its success is the result of effective joint work by both of our teams. Both partners are committed to leading edge technology and first class environmental and sustainability performance, which also provide a solid platform for the future.
Since we first announced our partnership with OAO Shchekinoazot in 2007 at the Ligna Trade Show, we have been working collectively to successfully grow the joint venture, said Dale Plante, Executive Vice President and President Forest Products Division of Hexion. We began production in 2009 and have seen strong growth since that time. The second reactor further highlights the strength of our partnership and our commitment to serving this important forest products growth region.
The JV commissioned a second reactor in the Tula region of Russia, directly at the Shchekinoazot industrial site. Construction began in 2014 with commissioning completed at the end of the year. Production volumes are steadily increasing and are expected to continue to grow in 2015 and beyond.
The joint venture company, Hexion-Shchekinoazot, produces a wide range of resin systems used for both construction and non-construction markets, including mineral wool insulation, wood panels and a range of specialty applications.
Boris Sokol, President of OAO Shchekinoazot, added, We are pleased with the progress of this joint venture to date. Its success is the result of effective joint work by both of our teams. Both partners are committed to leading edge technology and first class environmental and sustainability performance, which also provide a solid platform for the future.
With the addition of this reactor, the JV provides a full range of phenol formaldehyde applications to a diversified customer base while continuing to develop future product and geographic expansion plans, added Plante.
About Hexion Inc.
Based in Columbus, Ohio, Hexion Inc. (formerly known as Momentive Specialty Chemicals Inc.) is a global leader in thermoset resins. Hexion Inc. serves the global wood and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries. Hexion Inc. is controlled by investment funds affiliated with Apollo Global Management, LLC. Additional information about Hexion Inc. and its products is available at www.hexion.com.
About OAO Shchekinoazot
Based in Pervomaysky Settlement, Tula Region, Russia, Shchekinoazot is a large producer of industrial chemicals such as methanol, caprolactam, hexamine, ammonium sulphate, ion-exchange membranes as well as household chemicals.Additional information is available at http://n-azot.ru/.
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