Momentive Specialty Chemicals Inc. to Raise Global Pricing for its CARDURA™ glycidyl ester, ACE™ hydroxyl acrylate monomer, VEOVA™ monomers and VERSATIC™ acids
COLUMBUS, Ohio - (January 31, 2014) – Momentive Specialty Chemicals Inc. ("Momentive Specialty Chemicals" or the "Company") today announced that it will increase the prices for its CARDURA™ glycidyl ester, ACE™ hydroxyl acrylate monomer, VEOVA™ monomers and VERSATIC™ acids by $100 (USD) per metric ton on a global basis effective March 1, 2014, or as contract terms allow. The pricing adjustment is driven by the continuing increase in the cost of key raw materials.
About the Company
Based in Columbus, Ohio, Momentive Specialty Chemicals Inc. is the global leader in thermoset resins. Momentive Specialty Chemicals Inc. 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. Momentive Specialty Chemicals Inc. is an indirect wholly owned subsidiary of Momentive Performance Materials Holdings LLC.
Momentive Performance Materials Holdings LLC (“Momentive”) is the ultimate parent company of Momentive Performance Materials Inc. and Momentive Specialty Chemicals Inc. 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. Its technology portfolio delivers tailored solutions to meet the diverse needs of its customers around the world. Momentive was formed in October 2010 through the combination of entities that indirectly owned Momentive Performance Materials Inc. and Hexion Specialty Chemicals, Inc. The capital structures and legal entity structures of both Momentive Performance Materials Inc. and Momentive Specialty Chemicals Inc., and their respective subsidiaries and direct parent companies, remain separate. Momentive Performance Materials Inc. and Momentive Specialty Chemicals Inc. file separate financial and other reports with the Securities and Exchange Commission. Momentive is controlled by investment funds affiliated with Apollo Global Management, LLC. Additional information about Momentive and its products is available at www.momentive.com.
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CARDURA™, ACE™, VEOVA™ and VERSATIC™ are trademarks of Momentive Specialty Chemicals Inc.