Momentive Specialty Chemicals Inc. to Raise Prices for Polyester and Vinyl Ester Resins in North America
Columbus, Ohio (January 12, 2010) – Momentive Specialty Chemicals Inc. announced that effective February 1, 2011, it will raise prices for unsaturated polyester resins by nine cents per pound and vinyl ester resins by fourteen cents per pound.
“As oil remains near $90 per barrel and shortages of basic feedstocks persist we continue to experience dramatic cost increases for raw materials. Strong overseas demand coupled with diminished capacity will cause the difficult supply situation to persist well into 2011. We will continue to do everything we can to provide value for our customers now and in the future,” said Gerhard Bohme, Business Director North America, Composite Polymers.
About Momentive Specialty Chemicals, Inc.
Based in Columbus, Ohio, Momentive Specialty Chemicals is the global leader in thermoset resins. Momentive 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.
About the new Momentive
Momentive Performance Materials Holdings LLC is the ultimate parent company of Momentive Specialty Chemicals Inc. and Momentive Performance Materials Inc. (collectively, the “new Momentive”). The new Momentive is a global leader in specialty chemicals and materials, with a broad range of advanced specialty products that help industrial and consumer companies support and improve everyday life. The company uses its technology portfolio to deliver tailored solutions to meet the diverse needs of its customers around the world. The new Momentive was formed in 2010 through the combination of entities owned by Momentive Performance Materials and Hexion Specialty Chemicals. The company is controlled by investment funds affiliated with Apollo Global Management, LLC. Additional information about the new Momentive and its products is available at www.momentive.com and at www.hexion.com.
Business Director North America
Vice President, Public Affairs