American Securities, a US private equity firm, completed the acquisition of Hexion Holdings, a chemicals company, for $1.7bn. "We look forward to continuing to serve our valued customers and accelerating our next phase of growth under American Securities’ ownership. During 2021, we dramatically streamlined our portfolio through the sale of our Epoxy, as well as Phenolic Specialty Resins and European Forest Products, businesses. Going forward, we believe we are well-positioned for long-term growth," Craig Rogerson, Hexion Chairman, President and CEO. On January 25, 2022, Hexion announced that stockholders holding approximately 64.32% of the outstanding shares of common stock of the company delivered written consents approving the proposed acquisition of American Securities.