Hexion’s Loss Widens on High Raw Material Costs

Hexion Specialty Chemicals posted a net loss of $63 million for fourth-quarter 2007, compared with a net loss of $55 million in the year-ago period, on sales up 13%, to $1.48 billion. Operating income decreased 64%, to $21 million. Ebitda increased 2% to $125 million, due to improved product mix and ongoing cost-reduction programs, Hexion says. Morrison: Pricing partially offset costs. “Our fourth-quarter 2007 Ebitda was negatively impacted by $16 million in raw material inflation, $7 million in planned turnaround maintenance costs and $9 million in...

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