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Omnova Solutions announces general performance chemicals price increase of 20% effective Oct. 1

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Omnova Solutions announces general performance chemicals price increase of 20% effective Oct. 1

September 29, 2015 - 10:22
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BEACHWOOD, OH, Sept. 29, 2015 (PRNewswire) -OMNOVA Solutions today announced a general price increase of up to 20% for all products and across all markets served by its Performance Chemicals business, effective October 1, 2015 or as contracts allow. This increase is in addition to previously announced increases.

"Despite concentrated efforts to improve our business performance, including an extensive organizational redesign and a comprehensive operational footprint overhaul, our financial returns are not generating reinvestment economics," said Anne Noonan, President of OMNOVA's Performance Chemicals business. "In order for us to continue to provide the differentiated service and support our customers have come to expect from OMNOVA, we must take this critical action to ensure we remain a viable supplier of value creating solutions to the industries we serve now and in the future," said Noonan.

OMNOVA Solutions Inc. is a technology-based company with 2014 sales of $1.0 billion and a global workforce of approximately 2,300. OMNOVA is an innovator of emulsion polymers, specialty chemicals, and functional and decorative surfaces for a variety of commercial, industrial and residential end uses. Visit OMNOVA Solutions on the internet at www.omnova.com.