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Omnova to hikes prices of various products in the Americas

29 Apr '15

2 min read

Producer of speciality chemicals Omnova Solutions said it is raising prices on all styrene butadiene latex products and also on all styrene acrylic latices in the Americas effective May 15, 2015, or as contracts allow.

According to an Omnova press release, it will increase up to $0.10/dry pound on all styrene butadiene latex products and up to $0.06/dry pound on all styrene acrylic lattices.

"These price increases are necessary due to the combination of an upward trend in the cost of styrene as well as the need for Omnova to build a sustainable business,” said sales director Frank Nataro.

Previously, Omnova had announced that it will convert excess styrene butadiene (SB) capacity at its Mogadore, Ohio manufacturing facility to the production of styrene acrylics.

It had said that it was doing so as part of its commitment to serve the changing needs of its customers. That initiative is currently in the customer qualification phase.

"We need to be vigilant in responding to raw material inflation, addressing our cost structure and generating acceptable returns to allow reinvestment," Nataro added.

Omnova Solutions is a technology-based company with 2014 sales of $1.0 billion and a global workforce of approximately 2,300.

It is an innovator of emulsion polymers, specialty chemicals, and functional and decorative surfaces for a variety of commercial, industrial and residential end uses. (AR)

Fibre2fashion News Desk - India