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Reichhold Announces September Price Increase for Unsaturated Polyester Resins

09 August 2002

Reichhold announces a general price increase for all of its unsaturated polyester resins and gel coats of $.03 US per pound in North America, and equivalent amounts in respective regions in Europe, Latin America and the Middle East.

The increases will be implemented in September and are effective on all orders in North America placed on or after September 3, 2002.

Reichhold is issuing a price increase in response to current market conditions and the very significant changes in the basic petrochemical feedstocks, primarily styrene monomer. Petrochemical-based raw materials make up the largest component of Reichhold's unsaturated polyester resin and gel coat products.

""Styrene prices have risen over 50-percent since January,"" says Alex Car, vice president of sales for Reichhold's Global Composites business. ""Representing the largest material input for polyester resins, it has resulted in a significant impact on our costs. Despite initial hopes, there have been no signs of relief in these price levels,"" Car continues. ""As a result of these significant and continuing conditions, we have been forced to take this action,"" Car concludes.