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Hexion to Sell Its Phenolic Specialty Resins and Hexamine Businesses

Hexion, Columbus OH, announced that it has entered into an agreement to sell its Phenolic Specialty Resins, Hexamine and European-based Forest Products Resins divisions to Black Diamond and Investindustrial for approximately $425 million. The transaction is expected to close in the first quarter of 2021 and affects 900 employees and 11 global manufacturing facilities. See Hexion

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U.S. Consumer Confidence Jumps in September

U.S. consumer confidence in September registered at 101.8, skyrocketing 18.0% from August, according to The Conference Board Consumer Confidence Index. The index measuring current business and labor market conditions increased 14.8% from August to 98.5, while the short-term outlook for income, business and labor market rose 20.1% to 104.0 in September. See The Conference Board

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U.S. Construction Spending Increases in August

U.S. construction spending in August was estimated at a seasonally adjusted annual rate of $1.4 trillion, rising 1.4% from July and up 2.5% from the year-ago period.  Year-to-date spending grew 4.2% from the first eight months of 2019 to $927.7 billion. Private construction spending increased 1.9% from July to a seasonally adjusted annual rate of

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August Kitchen and Bath Sales Rise

U.S. kitchen and bath cabinet sales in August were 5.5% higher than the comparable month in 2019 and up 4.2% from July, according to the Kitchen Cabinet Manufacturers Association’s (KCMA) monthly Trend of Business member survey.  Year-to-date cabinet sales dropped 1.8% from the year-ago period. Semi-custom sales rose 0.1% from July but declined 7.1% compared

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U.S. Furniture Orders Soar in July

U.S. residential furniture factory orders in July rose 39% from the comparable month in 2019 and were 30% higher than June, according to a recent survey of manufacturers and distributors. The surge in July made year-to-date orders nearly even with 2019, with 88% of survey respondents reporting higher levels than the year-ago period. Furniture shipments

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RV Shipments Expand in August

The U.S. RV Industry Association’s monthly survey of manufacturers reported that shipments for August were 39,489 units, rising 17.3% from the comparable month in 2019. Year-to-date shipments were 258,591 down 7.1% compared to the first eight months of 2019. See RV Industry Association

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Hexion to Sell Its Phenolic Specialty Resins and Hexamine Businesses

Hexion, Columbus OH, announced that it has entered into an agreement to sell its Phenolic Specialty Resins, Hexamine and European-based Forest Products Resins divisions to Black Diamond and Investindustrial for approximately $425 million. The transaction is expected to close in the first quarter of 2021 and affects 900 employees and 11 global manufacturing facilities. See Hexion

Read More »

U.S. Consumer Confidence Jumps in September

U.S. consumer confidence in September registered at 101.8, skyrocketing 18.0% from August, according to The Conference Board Consumer Confidence Index. The index measuring current business and labor market conditions increased 14.8% from August to 98.5, while the short-term outlook for income, business and labor market rose 20.1% to 104.0 in September. See The Conference Board

Read More »

U.S. Construction Spending Increases in August

U.S. construction spending in August was estimated at a seasonally adjusted annual rate of $1.4 trillion, rising 1.4% from July and up 2.5% from the year-ago period.  Year-to-date spending grew 4.2% from the first eight months of 2019 to $927.7 billion. Private construction spending increased 1.9% from July to a seasonally adjusted annual rate of

Read More »

August Kitchen and Bath Sales Rise

U.S. kitchen and bath cabinet sales in August were 5.5% higher than the comparable month in 2019 and up 4.2% from July, according to the Kitchen Cabinet Manufacturers Association’s (KCMA) monthly Trend of Business member survey.  Year-to-date cabinet sales dropped 1.8% from the year-ago period. Semi-custom sales rose 0.1% from July but declined 7.1% compared

Read More »

U.S. Furniture Orders Soar in July

U.S. residential furniture factory orders in July rose 39% from the comparable month in 2019 and were 30% higher than June, according to a recent survey of manufacturers and distributors. The surge in July made year-to-date orders nearly even with 2019, with 88% of survey respondents reporting higher levels than the year-ago period. Furniture shipments

Read More »

RV Shipments Expand in August

The U.S. RV Industry Association’s monthly survey of manufacturers reported that shipments for August were 39,489 units, rising 17.3% from the comparable month in 2019. Year-to-date shipments were 258,591 down 7.1% compared to the first eight months of 2019. See RV Industry Association

Read More »
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