Momentive Specialty Chemicals Inc. To Raise Prices for Acrylics
COLUMBUS, Ohio - (January 18, 2011) - Momentive Specialty Chemicals Inc. announced today that it will raise prices for its solution acrylic resins and acrylic, styrene-acrylic, and vinyl acrylic latexes in North America.
The price increase is effective for orders shipped on or after February 1 or as contracts allow. Prices for solution acrylic resins will be increased by $0.10 per pound, acrylic and styrene-acrylic latexes will be increased by $0.05 per pound, and vinyl acrylic latexes will be increased by $0.03 per pound.
This pricing action is necessary due to the continuing significant cost escalation of key raw materials, in particular acrylate monomers, used in these products. Acrylate monomer prices continue to increase due to tightness in supply and significant price increases for propylene which is a major feedstock for acrylic monomer production, the company said.
About Momentive Specialty Chemicals Inc.
Based in Columbus, Ohio, Momentive Specialty Chemicals is the global leader in thermoset resins. Momentive serves global industrial markets through a broad range of thermoset technologies, specialty products and technical support for customers in a diverse range of applications and industries.
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.
Peter F. Loscocco
Vice President, Public Affairs
614 225 4127