Kraton Corporation Announces Energy Surcharge For HSBC Products Produced In Europe
Kraton Corporation (NYSE: KRA), a leader in sustainable specialty polymers, announced a €250/MT energy surcharge for all HSBC products produced in Europe, effective November 1, 2021.
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Rhea-AI Summary
Kraton Corporation (NYSE: KRA), a leader in sustainable specialty polymers, announced a €250/MT energy surcharge for all HSBC products produced in Europe, effective November 1, 2021. This decision is attributed to significant increases in the costs of Natural Gas, Electricity, and CO2 certificates, severely impacting production at their Berre, France plant. Kraton specializes in high-value bio-based products from pine wood pulping co-products, serving various industries including adhesives, automotive, and medical applications.
Positive
- Kraton is a leading global producer of sustainable specialty polymers, indicating strong market positioning.
- The surcharge reflects proactive management of rising production costs, potentially safeguarding profit margins.
Negative
- The increased surcharge may lead to higher prices for customers, potentially affecting demand.
- Rising energy costs are indicative of broader economic pressures that could impact profitability.
Details
News Market Reaction – KRA
The recorded move for KRA in the trading session of this news was +0.11%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
HOUSTON, Oct. 18, 2021 /PRNewswire/ -- Kraton Corporation (NYSE: KRA), a leading global sustainable producer of specialty polymers and high-value bio-based products derived from pine wood pulping co-products, announces an energy surcharge increase of 250€/MT for all HSBC products produced in Europe.
This action is driven by the recent and unprecedented price increases for Natural Gas, Electricity and CO2 certificates, which is substantially affecting the production cost in our HSBC plant in Berre, France.
This surcharge will be effective November 1, 2021, and/or subject to the terms of any applicable contracts and obligations.
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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