Hexion: Joint Venture with Russian Company
Hexion Specialty Chemicals, producer of thermoset resins, and OAO Shchekinoazot, a Russian industrial chemicals producer, have formed a joint venture company to manufacture resins for the forest products and construction markets.
The joint venture company, Hexion-Shchekinoazot, will produce a wide range of resin systems used in mineral wool insulation, plywood, medium density fiberboard and particleboard. The company will construct a resin production facility in the Tula region of Russia, directly at the Shchekinoazot industrial site. Production is planned to start by the end of this year.
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