KRATON CORPORATION ANNOUNCES PRICE INCREASE FOR HSBC POLYMERS
Kraton Corporation (NYSE: KRA) announced a price increase of 440 USD/MT for all Kraton HSBC polymers, effective April 1, 2022. This decision comes in response to significant rises in raw materials, energy, and logistics costs, particularly due to the unprecedented increases in natural gas prices in Europe. Additionally, energy surcharges will be applied to polymers produced at the company's plant in Berre, France. Kraton specializes in producing specialty polymers and high-value performance products derived from renewable resources.
- Price increase of 440 USD/MT may enhance revenue due to rising demand for polymers.
- Company responds proactively to rising raw material and energy costs.
- Price increase could lead to reduced demand if customers seek cheaper alternatives.
- Significant dependency on fluctuating energy costs, particularly natural gas in Europe.
HOUSTON, March 10, 2022 /PRNewswire/ -- Kraton Corporation (NYSE: KRA), a leading global producer of styrenic block copolymers, specialty polymers and high-value performance products derived from pine wood pulping co-products, announces a general price increase of 440 USD/MT for all Kraton HSBC polymers. This price increase is driven by recent significant cost increases in raw materials, energy and logistics costs.
Given the unprecedented increases for natural gas costs in Europe, additional energy surcharges will be applied to HSBC polymers produced in our HSBC plant in Berre, France.
Subject to the terms of any applicable contracts, these price increases and surcharges will take effect April 1, 2022.
ABOUT KRATON
Kraton Corporation (NYSE "KRA") is a leading global producer of specialty polymers and high-value performance products derived from renewable resources. Kraton's polymers are used in a wide range of applications, including adhesives, coatings, consumer and personal care products, sealants and lubricants, and medical, packaging, automotive, paving and roofing products. As the largest global provider in the pine chemicals industry, the company's pine-based specialty products are sold into adhesive, road and construction and tire markets, and it produces and sells a broad range of performance chemicals into markets that include fuel additives, oilfield chemicals, coatings, metalworking fluids and lubricants, inks and mining. Kraton offers its products to a diverse customer base in over 70 countries worldwide. Kraton, the Kraton logo and design are all trademarks of Kraton Corporation or its subsidiaries or affiliates.
For Further Information:
H. Gene Shiels, 281-504-4886
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SOURCE Kraton Corporation
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