A new global phenolics leader, Bakelite Synthetics, was formed on May 1, 2021 with the sale of Hexion’s Phenolic Specialty Resin, Hexamine and European-based Forest Products Resins businesses to Black Diamond and Investindustrial.
“We are excited to announce the formation of Bakelite Synthetics, a new company but at the same time one with a rich history of customized product development and customer service” says JP Aucoin, CEO of Bakelite Synthetics. “This acquisition demonstrates the confidence our new owners have in our business growth potential and we look forward to building on our legacy of delivering innovative solutions to our customers in a sustainable manner”.
The company’s headquarters is based in Louisville, Kentucky, with approximately 900 associates and 11 manufacturing facilities globally. Since Leo Baekeland’s invention of Bakelite® in 1907, products made with this chemistry have been highly valued for their durability and long-life cycle expectations. They have been used in products from the iconic Bakelite rotary phone of the 1930s to the space shuttle engine nozzles of the 1980s. Today, their use continues to evolve into 21st century technologies such as electric vehicles. Bakelite Synthetics’ products are widely used to turn renewable raw materials, such as wood, into highly engineered products, which facilitates the transition towards a carbon neutral economy. Other applications geared toward developing more sustainable products include: products that make buildings more fire resistant; new products that realize the future of transportation from electrics cars to space travel; and applications that support the production of life-sustaining crops. Its commercial, technical and product stewardship teams are passionate about partnering with its customers to meet their sustainability targets. For more information please visit www.bakelite.com.