Momentive Specialty Chemicals To Raise Prices For AXILATTM Redispersible Powders Globally
COLUMBUS, Ohio - (Oct 13, 2010) - Momentive Specialty Chemicals Inc., announced today that effective December 1, or as contracts allow, it will increase globally the price of its AXILATTM redispersible powders by 7% to 10%, depending on the grade. <?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /?>
This action is driven by the increase of raw materials, packaging and freight costs. It will allow Momentive Specialty Chemicals to continue providing comprehensive technical service for the benefit of its customers.
About Momentive Specialty Chemicals Inc.
Based in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" /?>Columbus, Ohio, Momentive Specialty Chemicals is the global leader in binding, bonding and coating 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.
Vice President Dispersions & Monomers Europe
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Vice President, Public Affairs