Hexion To Standardize Pricing Practices For North American Inks Market
COLUMBUS, Ohio--(BUSINESS WIRE)--Sept. 7, 2006--As part of an effort to simplify business practices and enhance service, Hexion Specialty Chemicals is standardizing pricing practices across all product lines for the North American inks market.
Hexion is instituting market-based pricing and eliminating both list and off-list pricing policies that have developed over the years. The new standardized pricing structure will apply to all Hexion products for the North American inks market, including those from the recently acquired ink resins business of Akzo Nobel. Most product pricing will be based on a "per pallet" basis.
Hexion also will decouple freight cost from product pricing, enhancing the clarity of the pricing structure to "take freight out of the equation," said Dan Romani, director, marketing and technology for Hexion's Ink and Adhesive Resins business. Freight will be handled on a collect or prepaid or add basis, rather than blended into product pricing, he said.
"We believe our new simplified pricing practices will give customers a cleaner view of our product pricing and eliminate unnecessary complexity in the pricing, billing and payment process," Romani said. "This move recognizes the growth of our business serving the inks market, both organically and through acquisition, and the need to standardize practices across the business."
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.
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Source: Hexion Specialty Chemicals