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Hexion Specialty Chemicals Announces Specialty Phenolic Resin Price Increase

October 12, 2007 at 12:00 AM EDT

COLUMBUS, Ohio (October 12, 2007) -- Hexion Specialty Chemicals announced today that, with immediate effect, prices for all specialty phenolic resins in Europe, Middle East and Asia will be increased as follows:

Liquid Resoles, Novolac Liquids, Flake, 40 – 60 euros / MT

Powder Resins 60 – 80 euro / MT

Account managers will be contacting customers directly to discuss specific product pricing.

Continued tight supply of key raw materials, compounded by escalation of key raw material costs make this price increase necessary and ensure continued supply to our customer base the company said.

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.

Contact:
David E. Price
European Business Director
Global Phenolic Specialty Resins
david.price@hexion.com