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Ashland, Dow, Eastman and CCP announce price increases

12 March 2004

Ashland, Dow, Eastman and CCP Increase Prices of Materials

Ashland Specialty Chemical Company is increasing, by 5 cents per pound (USD), the price of its unsaturated polyester resins, epoxy vinyl ester resins, low-profile additives and gel coat products. This price increase will be effective with shipments on and after April 1, 2004, and is in addition to the 4 cent-per-pound increase effective February 15, 2004.

DOW EPOXY Products and Intermediates (EP&I) will be raising the prices of its epoxy resins in Europe on 1 April, or as contracts allow. An extra 80 Euros per tonne will be added to all of its epoxy resin grades. This price increase follows last weeks price increases of its standard epoxy resins in Asia Pacific and Middle East, Africa and the Indian subcontinent from 1 April.

EASTMAN Chemical Co, Kingsport, Tennessee, USA, will increase the prices of its unsaturated polyester and vinyl ester resins by US$0.05/lb from 1 April.

CCP is increasing prices by US$0.05/lb for its unsaturated polyester resins, and $0.06/lb for gel-coat products, on all shipments made on, or after, 5 April. This is in addition to the increase that took effect on 9 February.

THE DOW Chemical Company, Midland, Michigan, USA, is increasing prices on all grades of Derakane epoxy vinyl ester resins in North America by US$0.05/lb.

Interplastic Corporation’s Thermoset Resins Division announced today a price increase of $0.05 per pound on its full line of CoREZYN® and Silmar® brand unsaturated polyester, vinyl ester, specialty resin products, gel coats, colorants, and putties. The increase will be for shipments on or after March 27, 2004 and is in addition to the previously announced increase of February 7, 2004.

“Crude oil continues at a price level well above the market norms with no relief in sight. Consumers can see the result of this at the pump as gasoline approaches record high levels. Polyester feed stocks continue to rise with recent additional announcements for all Glycols, Isophthalic Acid, Phthalic Anydride and others. As manufacturers, we can no longer absorb these continued higher costs. In addition, natural gas is projected to continue at historically high prices and we are just beginning to feel the impact of the new DOT service hour regulations. The expanding international economy, especially China, is also putting pressure on the supply side of basic petrochemicals such as Benzene, Ethylene and Styrene worldwide,” explained Steve Wetzel, Interplastic’s National Sales Manager.