Momentive Specialty Chemicals, Inc. (ticker: HXN, exchange: New York Stock Exchange (.N))
News Release -
Hexion Specialty Chemicals Announces Price Increase For Polyester And Vinyl Ester Resins In North America
COLUMBUS, Ohio - (April 15, 2010) - Hexion Specialty Chemicals, Inc. announced today that effective May 3, or as contracts allow, it will increase the price for all of its polyester and vinyl ester resins for the composites market by up to $.10 (ten cents) per pound.
The price increase is made necessary by ongoing increases in the cost for a wide variety of monomers and raw materials, said Gerhard Bohme, Business Director North America, Composite Polymers. Many raw materials are on allocation or force majure and strong demand overseas combined with reduced refining capacity domestically keeps driving costs higher despite weak demand in North America.
Hexion remains committed to delivering value to our customers and we appreciate their patience as we work through these difficult supply issues. Please contact your Hexion sales representative for details.
About Hexion Specialty Chemicals, Inc.
Based in Columbus, Ohio, Hexion Specialty Chemicals is the global leader in thermoset resins. Hexion serves the global wood and industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries. Additional information is available at www.hexion.com.
Gerhard K. Bohme
North American Composites UPR & VER
Vice President, Public Affairs