FAIRLAWN, OH, March 26, 2014 (Press Release) -OMNOVA Solutions' Performance Materials business today announced a price increases of up to $0.07 per wet pound of polyvinyl acetate homopolymer, vinyl acetate and vinyl acrylic based emulsions. In addition, all styrene-butadiene latex based emulsions will increase up to $0.10 per wet pound. These increases are effective April 14, 2014 for the North American paper, packaging and carpet markets. This action is necessitated by a global supply shortage of vinyl acetate monomer, the continuing escalation in the costs of other key raw materials and is in addition to all previously announced increases.
OMNOVA Solutions Inc. is a technology-based company with sales for the fiscal year ending November 30, 2013 of $1.0 billion and a global workforce of approximately 2,300. OMNOVA is an innovator of emulsion polymers, specialty chemicals, and decorative and functional surfaces for a variety of commercial, industrial and residential end uses.