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Bayer MaterialScience to Raise Prices for Polyester Resins, Alkyd Resins and Hydroxyl Acrylates

Published on 2005-01-03. Author : SpecialChem

Leverkusen -- Bayer MaterialScience AG is to raise its prices for saturated and unsaturated polyester resins, alkyd resins and hydroxyl acrylates by up to EUR 0.45 per kilogram. The rise will come into force on January 1, 2005 at the latest. Because of the constant cost increases for the feedstocks, the profitability of these products has been declining for some time now. Despite wide-ranging measures to enhance cost effectiveness, no lasting improvement has been achieved in the earnings situation. The persistent erosion of margins is making it increasingly difficult for Bayer MaterialScience to safeguard sufficient production capacities, to provide adequate technical service and to continue developing its product portfolio to satisfy future market needs. All existing contractual obligations will be met.

Bayer MaterialScience is a leading global manufacturer of saturated and unsaturated polyester resins, alkyd resins and hydroxyl acrylates. These products are used as raw materials for e.g. high quality surface coatings, polyurethane foams, elastomers and adhesives, and others.

Forward-Looking Statements

This news release contains forward-looking statements based on current assumptions and forecasts made by Bayer Group management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in our public reports filed with the Frankfurt Stock Exchange and with the U.S. Securities and Exchange Commission (including our Form 20-F). The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

Source: Bayer MaterialScience AG

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