Perstorp increases prices
Perstorp / Neste Oxo increases prices for Pentaerythritol, trimethylolpropane, 2-Ethylhexanoic acid and propionic acid. Effective April 1, 2002, Perstorp/Neste Oxo will increase the price for pentaerythritol (Penta) in Europe by 150 EURO per metric ton , and $100 per metric ton in the export markets of Asia, South America, the Middle East, and Africa.
Trimethylolpropane (TMP) will be increased 100 EURO per metric ton in Europe and $100 in the aforementioned export markets. Penta and TMP are not effected in North America. The price increases are due to higher costs, which can no longer be offset by productivity improvements. As of April 1, 2002, Perstorp /Neste Oxo will also increase the price for 2-Ethylhexanoic acid (2-EHA) in Europe by 80 EURO per metric ton, and $60 per metric ton in the export markets of Asia, South America, the Middle East, and Africa. Propionic acid (PRA) will be increased by 50 EURO per metric ton in Europe. General market conditions with increased demand necessitate these price increases, which are necessary to restore satisfactory margins. Perstorp/Neste Oxo is the largest producer of pentaerythritol, trimethylopropane and 2-Ethylhexanoic Acid in the world. A further expansion of 2-Ethylhexanoic Acid with 20% was completed during the autumn 2001. 2-Ethylhexanoic Acid is used in the production of dryers in paints, inks and varnishes. Both the salts and esters of this product are also used in synthetic lubricants. Propionic Acid is used in a variety of products like Silage additives and feed mixtures.
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