16 January 2004
16 January 2004
Reichhold, AOC and Interplastic will all increase their prices during February.
Reichhold will increase their prices by $.04 per pound (not $.03 per pound as they first announced) on all unsaturated polyester resins sold in the U.S., Mexico and Canada effective for orders shipped on or after February 9, 2003. AOC will also increase prices by US $0.04 per pound on all resins in the United States and Canada shipped on or after February 9, 2004, and Interplastic Corporation’s Thermoset Resins Division will increase prices by $0.04 per pound on its full line of CoREZYN and Silmar brand unsaturated polyester, vinyl ester, specialty resin products, gel coats, colorants, and putties. Their increase will be for shipments on or after February 7, 2004.
""We had hoped for relief from raw materials pressures throughout 2003,"" said Ken Moran, Reichhold director of sales, North America & Mexico. ""That softening did not occur, necessitating this price increase.""
""Reichhold has worked diligently to reduce manufacturing costs,"" said Reichhold Senior Vice President, Commercial, Bruce Fawcett. ""And, while we are continuing to make progress in that effort, rising raw materials costs require that Reichhold recoup its costs. Reichhold continues to invest in its business with capacity increases at our Morris, Illinois manufacturing site and other investments designed to drive productivity and ensure consistent product quality. ""We encourage customers to speak directly with their local Reichhold representatives who can answer questions related to this pricing adjustment,"" Fawcett concluded.
“Continued increases in styrene monomer along with recent across the board movement on polyester feedstock materials necessitates this announcement. In addition, continued high costs for crude oil and natural gas, plus higher transportation fuel costs and the DOT’s new hours of service regulation are also driving the need for these changes,” explained Steve Wetzel, Interplastic’s National Sales Manager.