MOSCOW (MRC) -- Synthomer, one of the world’s major suppliers of latices and speciality emulsion polymers, has announced a price increase on its dispersions and latex product portfolio in Europe, said the producer in its press release.
Synthomer raised prices of acrylic, styrene and butadiene based dispersion and latex products due to continued increases in raw material costs, as follows:
- styrene-acrylics - by up to EUR100 per tonne;
- pure acrylics - by up to EUR70 per tonne;
- carboxylated styrene-butadiene - by up to EUR200 per tonne;
- acrylonitrile-butadiene - by up to EUR150 per tonne;
- high solids styrene-butadiene - by up to EUR300 per tonne;
- any other butadiene containing - by up to EUR300 per tonne.
The adjustment will be effective for all shipments on or after Feb 20th 2017, or as contracts allow and is in addition to all previously announced price increases.
"We are faced with unprecedented cost increases of butadiene. The European contract price of this key feedstock has risen almost 50% in a month. The rapid escalation in cost of styrene has further increased the cost pressures. The supply chains are extremely tight on multiple planned and unplanned supplier outages. Hence we cannot rule out further price increases", says Dr. Christoph Breucker, VP Europe.
As MRC informed before, in March 2016, Synthomer acquired the Hexion Performance Adhesives & Coatings (Hexion PAC) business of US-based Hexion in a transaction valued at USD226m. Following the acquisition, Synthomer will get access to new product technologies and markets. Hexion PAC is complementary to the company's existing business, both geographically as well as in the markets in which it operates. The acquisition will enable Synthomer to venture into the speciality coatings market. Integration of the Hexion PAC business will offer around USD12m of annualised synergies to the company by the end of 2018.
Synthomer is one of the world’s major suppliers of latices and speciality emulsion polymers supporting leadership positions in many market segments including coatings, construction, textiles, paper and synthetic latex gloves. The company has its Head Office in London, UK and provides customer focused services from operational centres in Marl, Germany, Harlow, UK, and Kuala Lumpur, Malaysia.
MRC