OK
The Universal Selection Source:
Coatings Ingredients
Industry News

Hexion To Standardize Pricing Practices For North American Inks Market

Published on 2006-09-11. Author : SpecialChem

COLUMBUS, Ohio -- As part of an effort to simplify business practices and enhance service, Hexion Specialty Chemicals is standardizing pricing practices across all product lines for the North American inks market.

Hexion is instituting market-based pricing and eliminating both list and off-list pricing policies that have developed over the years. The new standardized pricing structure will apply to all Hexion products for the North American inks market, including those from the recently acquired ink resins business of Akzo Nobel. Most product pricing will be based on a "per pallet" basis.

Hexion also will decouple freight cost from product pricing, enhancing the clarity of the pricing structure to "take freight out of the equation," said Dan Romani, director, marketing and technology for Hexion's Ink and Adhesive Resins business. Freight will be handled on a collect or prepaid or add basis, rather than blended into product pricing, he said.

"We believe our new simplified pricing practices will give customers a cleaner view of our product pricing and eliminate unnecessary complexity in the pricing, billing and payment process," Romani said. "This move recognizes the growth of our business serving the inks market, both organically and through acquisition, and the need to standardize practices across the business."

About Hexion Specialty Chemicals, Inc.

Based in Columbus, Ohio, Hexion Specialty Chemicals is the global leader in thermoset resins. Hexion 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.

Safe Harbor Language

Statements contained in this press release may include "forward-looking statements" about the Company's financial results under the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Act of 1934, as amended. Forward-looking statements are based on our currently available financial, economic and competitive data and on business plans. Actual results could vary materially depending on risks and uncertainties that may affect the company's operations, markets, services, prices and other factors as discussed in our filings with the Securities and Exchange Commission. These risks and uncertainties include, but are not limited to, economic, competitive, legal, governmental and technological factors. There is no assurance that the company's expectations will be realized. We undertake no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as otherwise required by law.

Source: Hexion Specialty Chemicals


Halcyon Group 3rd R&D Innovation Summit
Channel Alerts

Receive weekly digests on hot topics

Back to Top