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Hexion to merge with N.Y.-based Momentive

Columbus-based Hexion Specialty Chemicals will merge with Momentive Performance Materials Inc., of Colonie, N.Y.,  to form one of the largest chemicals and materials companies in the world, reports the Troy Record.

The new company will be based in Columbus but will assume the Momentive name. The company will have projected annual sales of about $7.5 billion and employ more than 10,000 at its various locations.

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