26 January 2003
26 January 2003
AOC will increase prices by US $0.04 per pound on all products, including resins, gel coats, pigments and b-sides in North America shipped on or after February 10, 2003.
According to AOC, the magnitude of December and January sharply higher energy and raw material price increases cannot be absorbed. Several global and regional events are involved.
- Instability of world oil supplies as affected by the Venezuelan crisis and immanent threat of war with Iraq.
- Higher natural gas prices resulting from a colder than normal winter and restricted supply after two hurricanes struck the Gulf Coast.
- Increases in styrene, PG, EG and DG
Events related to terrorist activities, possible war with Iraq, an impasse in Venezuela, and a cold winter are not resolved. These issues forebode more increases in energy and raw material supply. Some raw material suppliers announced increases of $0.06 per pound this week that are effective in February. These are not factored into this announcement.
Foster Corporation has seen its business flourish in the last few years. As a result of this growth, Foster has broken ground on a new state-of-the-art 55,780 ft2 (5,182 m2) manufacturing facility that is adjacent to its headquarters in Putnam, Connecticut, US.
Interface Polymers has won one of the AkzoNobel ‘Paint the Future’ Awards given to innovative startups, winning an Award in the ‘Enhanced Functionality’ category.
Fibre handling expert and custom machinery manufacturer Cygnet Texkimp has developed an AGV-mounted mobile handling system using a collaborative robot capable of lifting packages of fibre weighing up to 35kg.