Hexion to hike resin prices

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Hexion Specialty Chemicals will increase prices in North America for unsaturated polyester resin systems by 6 cents per pound, and for vinylester resin systems by 9 cents per pound, effective Feb. 1.

"Increasing cost for oil, natural gas and the intermediates derived from them have driven significant increases in prices for our raw materials, particularly styrene, maleic anhydride and glycols," said Gerhard Bohme, North America business director of composite polymers, in a statement.

"These changes, along with the expectation for these elevated prices to last at least into the second quarter, make the price adjustment a necessity," he added.

The company also announced that as of Jan. 11, or as contract terms allowed, it had increased the prices of its liquid, solid and solution epoxy resin grades by 150 euro per metric ton in Europe and $200 per metric ton in the Middle East and Africa.

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