Raw Materials Force Hexion To Raise Prices

Hexion Specialty Chemicals said it plans to raise prices on is acrylic, styrene acrylic and styrene butadiene products in Europe, the Middle East and Africa.

COLUMBUS, Ohio (AP) -- Hexion Specialty Chemicals Inc. said Thursday it plans to raise prices on is acrylic, styrene acrylic and styrene butadiene products by $99 (euro 80) to $149 (euro 120) per metric ton in Europe, the Middle East and Africa.

The increases will be effective June 15 or as contracts allow, the privately held Columbus, Ohio, chemical maker said in a statement.

The price jump comes after previous increases and is driven by the rising cost of raw materials, the company's statement said.

The materials are used in a wide range of coatings and adhesives, the company said. Hexion serves the global wood and industrial markets.

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