18 June 2004
18 June 2004
Reichhold are to make two price increases on their composite products in the EMEA region and on all unsaturated polyester resins sold in the United States and Canada.
Reichhold are to increase the prices by 100 € (Euro) per metric ton on all of its products sold to the composites industry in the EMEA region (Europe / Middle East / Africa) effective for orders shipped on or after July 1, 2004. An additional increase of 30 € per metric ton for packaged goods will also be implemented July 1.
Reichhold also plan to increase price by $0.05 per pound on all unsaturated polyester resins sold in the United States and Canada.
This increase is in addition to the June 1, 2004 price adjustment and applies to all orders shipped on or after July 15, 2004.
“The unremitting escalation of key raw material prices continues to far outpace our ability to recoup these costs and has regretfully left Reichhold with little alternative but to make another pricing adjustment,” explained Bruce Fawcett, Reichhold senior vice president, commercial. “We are continuing to see upward pressures on styrene, glycols as well as saturated and unsaturated acids all of which are key materials in the production of our products,” Fawcett continued.
AOC will increase prices by US $0.05 per pound on all products sold in the United States and Canada shipped on or after July 19, 2004.
AOC point to the increased prices of raw materials but also to the economic growth in China which has increased demand globally, resulting in reduced supply.