Hexion was formed in 2005 through the merger of Borden Chemical, Inc., Resolution Performance Products LLC, and Resolution Specialty Materials LLC, and the acquisition of Bakelite AG.
Hexion retains control over the Elsie the Cow trademark and Borden name.
Hexion's German division (Hexion Specialty Chemicals GmbH) currently owns the German company Bakelite AG. The German company claims to own the trademark to Bakelite in a number of countries around the world, notably not including the United States, nor the European Union as a whole.
Hexion announced in July of 2007 that it was acquiring Huntsman Corp., a major specialties company, but the deal fell through on June 20, 2008.