March 5, 2008
Kuraray Co., Ltd.
Kuraray announces the decision to increase the prices of both methyl methacrylate (MMA) monomer and methyl acetoacetate (MAA) by ¥25 per kilogram for shipments in Japan commencing March 10, 2008.
Demand for MMA monomer remains robust, particularly in the area of optical-use polymethyl methacrylate (PMMA) as well as for transparent ABS resins.
As with MMA monomer, supplies of MAA, which is used to make esters, coatings and adhesives, remain tight amid strong demand in Japan and the rest of Asia.
At the same time, in addition to utility cost hikes, the price of acetone - a main raw material for MMA monomer and MAA - is hovering in a higher range due to the increased naphtha prices resulting from surging crude oil prices. Thus the domestic and overseas operating revenues of the MMA monomer and MAA businesses have deteriorated rapidly.
In view of these circumstances, and in an effort to maintain the stability of supply and improve business profitability, Kuraray has decided to implement the upward price revisions for these products, as described below.