Hexion Completes Acquisition of Smartech to Enhance AI Solutions

Hexion Inc., a leader in adhesives and performance materials, has announced the completion of its acquisition of Smartech, an advanced technology company specializing in AI-driven autonomous manufacturing solutions. This strategic move marks Hexion's first acquisition in a decade, representing a significant step in its strategy to transform the manufacturing ecosystem. The acquisition aims to integrate Smartech's cutting-edge AI and machine learning technologies to boost production efficiency, cost-effectiveness, sustainability, and quality in the wood processing industry and beyond. Hexion's CEO, Michael Lefenfeld, emphasizes that this partnership comes at a crucial time as the global manufacturing sector faces rising raw material costs and supply chain pressures. By leveraging AI-driven innovations, Hexion positions itself as a leader in intelligent manufacturing. Smartech's CEO, Hanoch Magid, highlights the global reach and immediate benefits of their technologies for manufacturers. This acquisition aligns with Hexion's five-year transformation plan under American Securities, focusing on innovation and operational excellence. Financial details of the acquisition were not disclosed, and Smartech will continue operating independently while leveraging the synergies with Hexion's portfolio.