OMNOVA announces surcharge for specialty chemicals containing butadiene
01 Apr '08
1 min read
OMNOVA Solutions' Specialty Chemicals business announced a surcharge on styrene butadiene based polymers beginning April 1, 2008, for all specialty chemical markets including coatings, tape & adhesives, nonwovens, floor care and construction.
The surcharge will vary monthly depending on market conditions. For April 2008, the amount of the surcharge will be $0.02 per dry pound. The surcharge is in addition to previously announced product price increases for these markets.
OMNOVA is initiating the surcharge in response to dramatic increases in the cost of butadiene from the Company's suppliers due to shortages of a key butadiene feedstock. The shortages are affecting all butadiene users in the U.S., particularly large volume manufacturers who produce styrene butadiene rubber. The surcharge will remain in effect until the butadiene market regains stability.
OMNOVA Solutions Inc. is a technology-based company with 2007 sales of approximately $746 million and a current workforce of 2,810 employees worldwide. OMNOVA is an innovator of emulsion polymers, specialty chemicals, and decorative and functional surfaces for a variety of commercial, industrial and residential end uses.
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