Momentive Specialty Chemicals Inc. To Raise Global Prices For VersaticTM Acids and Derivative Products
Columbus, Ohio (January 28, 2011) – Momentive Specialty Chemicals Inc. announced today that it will increase the prices for its CARDURA™ glycidyl ester, ACE™ hydroxyl acrylate monomer, VEOVA™ monomers and VERSATIC™ acids on a global basis effective February 15, 2011, or as contract terms allow.
Prices for all grades of CARDURA glycidyl ester and ACE hydroxyl acrylate monomer will increase by € 150/mt, or $200/mt. Prices for all grades of VEOVA monomers and VERSATIC acids will increase by € 220/mt, or $300/mt.
The pricing adjustment is driven by continued cost increases of key raw materials for these products.
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 owned by Momentive Performance Materials and Hexion Specialty Chemicals. The company is controlled by investment funds affiliated with Apollo Global Management, LLC.
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