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Borden Chemical, RPP and RSM To Form Hexion Specialty Chemicals
Borden Chemical, Inc. and Resolution Performance Products LLC (RPP) have announced plans to merge, together with Resolution Specialty Materials LLC (RSM), to form the world's largest producer of thermosetting resins. All three companies are owned by affiliates of the private investment firm Apollo Management, L.P. The new company will be named Hexion Specialty Chemicals, Inc. Hexion is expected to also include Bakelite AG, which Borden acquired earlier this month.