Wedoany.com Report-Dec.5, Hexion Inc., headquartered in Columbus, Ohio, has completed the sale of its U.S. Gulf Coast formalin business to infrastructure manager Ancala. The transaction includes production facilities in Baytown, Texas; Luling, Louisiana; and Geismar, Louisiana, together with related long-term customer contracts. These sites rank among the largest suppliers of methanol-based raw material plants in the region. Financial details were not disclosed.

Ancala has established a new operating company, Valentra, to manage the acquired assets. Valentra is staffed primarily by the experienced personnel who previously ran the sites under Hexion, ensuring operational continuity, consistent service quality, and retention of technical know-how. Hexion will maintain formalin supply to customers in other geographic markets.

The divestment supports Hexion's strategic shift toward becoming a global leader in technology-driven, cellulose-based performance materials. The company is combining more than a century of chemical expertise with bio-based feedstocks, advanced manufacturing processes, and artificial intelligence to develop sustainable solutions for construction, packaging, energy, transportation, and infrastructure sectors.

"With this transaction, Hexion is sharpening its position as a market leader in technology-enabled materials, while demonstrating our rapid progress and commitment to the company's evolution," said Michael Lefenfeld, President and Chief Executive Officer of Hexion. "By uniting our deep expertise with bio-based chemistries, precision manufacturing, and AI enablement, we're engineering solutions that outperform traditional materials in performance, economics, and sustainability. Our focus on high-value innovation positions Hexion at the center of a generational shift to cellulose-based materials."

Morgan Stanley & Co. LLC served as financial advisor and Kirkland & Ellis LLP as legal advisor to Hexion on the transaction.

The sale allows Hexion to concentrate resources on its innovation-driven portfolio while Valentra continues reliable formalin production and supply in the U.S. Gulf Coast market.