Momentive Specialty Chemicals Inc. to Raise Prices for Polyester and Vinyl Ester Resins in North America
Columbus, Ohio (April 26, 2011) – Momentive Specialty Chemicals Inc. has announced that effective May 16, 2011, it will raise prices for unsaturated polyester resins and vinyl ester resins by eight cents per pound.
“A continued shift to lighter feedstocks has led to supply constraints in basic raw materials, particularly propylene, xylene and naptha. This tightness continues to drive increasing prices for the chemical intermediates we use to produce resins. While these constraints have led to significant tightness in raw material supply, we have an excellent position to deliver our customers needs. 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.momentive.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 who own Momentive Performance Materials and Hexion Specialty Chemicals. The company is controlled by investment funds affiliated with Apollo Global Management, LLC.
Business Director North America
Vice President, Public Affairs