Hexion to Raise Prices for Composite Polymers in North America
COLUMBUS, Ohio - (January 7, 2010) - Hexion Specialty Chemicals announced today that it will increase prices in North America for unsaturated polyester resin systems by six cents per pound, and for vinyl ester resin systems by nine cents per pound, effective February 1, 2010.
Increasing cost for oil, natural gas and the intermediates derived from them have driven significant increases in prices for our raw materials, particularly styrene, maleic anhydride and glycols. These changes along with the expectation for these elevated prices to last at least into the second quarter make the price adjustment a necessity, said Gerhard Bohme, Business Director North America, Composite Polymers.
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.