COLUMBUS, Ohio - (December 10, 2007) - Hexion Specialty Chemicals, Inc. today announced a Temporary Price Adjustment (TPA) on its resins and catalysts effective January 1, 2008, or as contract terms allow.
Price increases include: Urea Formaldehyde Resins, $0.099/LB; Melamine Formaldehyde Resins, $0.1975/LB; Phenol Resorcinol Formaldehyde Resins, $0.05/LB; Para Formaldehyde (powder and liquid), $0.10/LB and $0.03/LB, respectively, and Non-para Formaldehyde Catalysts, $0.06/LB.
Agricultural and overseas demand increase in urea, shortages in methanol, and volatility of the petrochemical supply have combined to make this TPA necessary, the company said.
About Hexion Specialty Chemicals, Inc.
Based in Columbus, Ohio, Hexion Specialty Chemicals 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. Hexion Specialty Chemicals is owned by an affiliate of Apollo Management, L.P. Additional information is available at www.hexion.com.