FOR IMMEDIATE RELEASE
Hexion Announces Surcharge on Rosin-Based Resin Products
COLUMBUS, Ohio – (May 3, 2010) - Due to significant volatility and unprecedented price increases in the worldwide rosin market this year, Hexion Specialty Chemicals will implement a surcharge on all rosin-based resins beginning June 1, 2010.
“While seasonal volatility in the gum rosin market is common, extreme volatility this year in both gum rosin and tall oil rosin has resulted in tight supply and higher costs. This situation is anticipated to continue for some time,” said Brad Crocker, Vice President, Ink & Adhesive Resins.
As one of the world's largest producers of rosin-based resins for the coatings, printing ink and adhesives industries, Hexion has invested to secure supply of critical rosin raw materials to meet customer needs. However, assuring adequate supplies of rosin at higher costs requires implementation of the rosin surcharge.
Beginning June 1, surcharges will be as noted for the following products:
- Setaprint™, Filtrez™, Eco-Rez™ and Pinerez™ rosin resins: $0.09 / Lb.
- Setaprint™, Eco-Rez™ rosin resin solutions: $0.05 / Lb.
- Snowtack™ and Burez™ tackifier dispersions: $0.05 / Lb.