Cytec Industries Inc. announced that it is increasing prices in North and South America of its Cymel, Aerotex, Melurac and Cyrez amino resins, and of its Alvonol phenolic resins. The increases took effect on Sept. 15, 2006.
All of the increases are necessary to offset the double-digit increases in the cost of methanol, and the combined impact of the associated costs of key derivatives, such as formaldehyde, as well as related oxo-alcohol products.
Also, because of the general methanol shortage in North America and actions by a raw material supplier subjecting Cytec to allocation, Cytec is implementing a 100 percent allocation policy immediately. Customer order patterns for the previous seven months will be examined, and will form the basis of allocations per month of future orders.