Hexion Specialty Chemicals, Inc. to Raise North American Prices for Acrylic-based Resins and Latexes, Powder and Liquid Polyester Resins, and Soya-based Alkyd Resins

COLUMBUS, Ohio--(BUSINESS WIRE)--Hexion Specialty Chemicals announced that it is raising prices in North America for its powder polyester resins and off-list prices for its liquid polyester resins, acrylic-based solution resins and latexes, and soya-based alkyd resins due to cost escalation of key raw materials including various acrylic monomers, neopental glycol (NPG), isophthalic acid, adipic acid, and soybean oil. These resin systems are used in a wide variety of coating systems and applications.

Hexion increased polyester powder resin prices by $0.12 per lb for full-pallets effective with shipments made on or after August 16, 2010. Additionally, the premium for material not purchased in full pallet quantities was adjusted to $1.00 per lb over the less-than truckload pallet price.

Off-list prices for affected products will be increased as follows effective August 30, 2010, or as contracts allow.

$0.11 per lb ... Liquid polyester resins based on adipic acid

$0.08 per lb ... Liquid polyester resins not containing adipic acid

$0.08 per lb ... Solution Acrylic Resins

$0.07 per lb ... Acrylic & Styrene-Acrylic latexes

$0.03 per lb ... Vinyl-Acrylic latexes

$0.025 per lb ... Soya-based long oil alkyd resins

$0.015 per lb ... Soya-based medium oil alkyd resins

These increases only partially recover the impact of these key raw material increases over the last few months and the recent rapid increases in soy bean oil prices.

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.