Columbus, Ohio-Hexion Specialty Chemicals announced 7 June that it will increase the price of all solvent-based and water-borne coating resins in North America.
This price rise will take effect for shipments from 5 July, or as contracts allow, Hexion said.
The price increase include:
-- Solvent borne alkyds and modified alkyds (copolymers, silicone alkyds and related products)- $0.05 - $0.07/lb.
-- Oil modified urethanes-$0.04/lb.
-- Saturated polyester resins-$0.06/lb.
-- UV curable resins-$0.06/lb.
-- Waterborne alkyds-$0.04/lb.
-- Solution acrylic resins-$0.04/lb.
-- Styrene acrylic latex emulsions-$0.03/lb.
Columbus-based Hexion said this increase is needed to counteract the continued rise in the costs for raw materials, transport and other factors.
* Separately, Hexion Specialty Chemicals announced that it completed its purchase of the global ink and adhesive resins business of Akzo Nobel on 1 June.
The business produces resins used to make inks for commercial printing and packaging, digital inks for laser and photocopier printing, and pressure-sensitive adhesives used in tape and labeling applications. Its resins also are used in synthetic rubber, pigments, flooring, roadmarkings, diapers and other products. It will become part of Hexion's Performance Products and Inks Division.