Hexion Completes Strategic Acquisition of Smartech

Hexion Inc., a leading global supplier of adhesives and performance material solutions, has successfully completed the acquisition of Smartech, an innovative technology company pioneering AI-driven autonomous manufacturing solutions. This acquisition underscores Hexion's strategic intent to incorporate advanced AI and machine learning technologies into its operations to enhance production efficiency, lower costs, and support sustainable manufacturing practices. The integration of Smartech's technologies, such as the SmartWAX, SmartPF, and SmartMDI systems, will significantly augment Hexion's capabilities within the wood processing, adhesives, construction, and building materials sectors. This partnership is expected to spearhead impactful innovations, driving solutions for industry challenges like rising raw material costs and environmental pressures. Under the leadership of Michael Lefenfeld, President and CEO of Hexion, and Hanoch Magid, CEO of Smartech, the two companies are positioned to redefine manufacturing standards with sustainable, AI-powered solutions. Although financial terms were not disclosed, Smartech will operate as an independent entity post-acquisition. The deal aligns with Hexion's five-year transformation strategy backed by American Securities, aiming for operational excellence and market leadership for the next century.