Hexion Inc. recently announced financial results for the fourth quarter and year ended December 31, 2014. Net sales for the quarter ended December 31, 2014, were $1.16 billion, a decrease of 3% compared with $1.20 billion in the prior year period. The decline in net revenues was reportedly driven by the strengthening of the U.S. dollar against most other currencies, which more than offset gains in the North American forest products and specialty epoxy businesses.
Net sales for the year ended December 31, 2014, were $5.14 billion, up 5% compared with $4.89 billion in the prior year. The increase in net sales was primarily driven by gains in the forest products, specialty epoxy and oilfield businesses, partially offset by cyclicality in the base epoxy and dispersions businesses.