Hexion Specialty Chemicals To Raise Prices For Versatic Acids and Derivatives.COLUMBUS, Ohio Columbus is the capital and the largest city of the American state of Ohio. Named for explorer Christopher Columbus, the city was founded in 1812 at the confluence of the Scioto and Olentangy rivers, and assumed the functions of state capital in 1816. -- Hexion Specialty Chemicals Hexion Specialty Chemicals, Inc. is a Fortune 500 company based in Columbus, Ohio that is the world’s largest producer of binder, adhesive, coating and ink resins for industrial applications. announced today it will increase the prices of its Versatic Acids and their derivatives (VeoVa(TM) and Cardura(TM)) globally effective October 1 or as contract terms allow. The following price increases will apply: --all Versatic Acid grades by 150 Euro/mt or 200 USD/mt (equaling 9 cents per pound) --all VeoVa grades by 150 Euro/mt or 200 USD/mt (equaling 9 cents per pound). --all Cardura grades by 200 Euro/mt or 260 USD/mt (equaling 12 cents per pound) "This price increase is necessary to recover margin after an extended period of high feedstock feed·stock n. Raw material required for an industrial process. Noun 1. feedstock - the raw material that is required for some industrial process raw material, staple - material suitable for manufacture or use or finishing costs and is supported by the increasingly strong demand for our products," said Jorrit Klaus, Vice-President, Versatics. 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 A polymer-based liquid or powder that becomes solid when heated, placed under pressure, treated with a chemical or via radiation. The curing process creates a chemical bond that, unlike a thermoplastic, prevents the material from being remelted. See thermoplastic. 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 Apollo Management L.P. is a private equity L.P. firm, founded in 1990 by Leon Black (Apollo Advisors). Based in New York, it also has offices in Los Angeles and London. It has invested over $16 billion in companies inside and outside the of the United States. , L.P. Additional information is available at www.hexion.com. |
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