22 October 2010
22 October 2010
Reichhold will increase the prices of its unsaturated polyester and vinyl ester resins, whilst PPG will increase the prices of all fiber glass products, both affecting North America
Reichhold will make a price increase of $0.04 per pound on all unsaturated polyester and vinyl ester resins sold in North America for the composites industry. This increase is in addition to the previous price increase on vinyl ester resins and is effective for all orders shipped on or after November 8.
Key raw material prices continue to escalate beyond our ability to absorb these additional costs and a price increase is necessary, said Al Naser, Reichhold commercial vice president, Composites North America. Raw material prices have continued to increase due to tight supply of critical feedstocks, global supply and demand, and less favorable yields of critical feedstocks as North American refineries are using natural gas rather than crude oil as the favored primary feed due to more favorable economics, Naser continued.
We appreciate the understanding of our customers as we work to minimize the impact of rising costs upon product pricing, Naser added. At the same time we are making the investments necessary to continue the supply of innovative and high quality products and services which add value for our customers and increase their competitiveness in the markets they serve, he concluded.
PPG Industries is raising prices on all fibreglass reinforcement and specialty yarn product lines in North America by up to 15 percent, effective November 1 or as permissible by contract.
The demand for fibre glass remains strong as the economy continues to recover, said Kevin McDonald, PPG general manager, fiber glass. We see growth in energy, automotive and power generation, and the price increases will help us to invest in our capacity to support this growth.
PPGs price increase will affect all chopped fibres, direct rovings, multi-end rovings, mats and yarns. Sales representatives will communicate price-increase details to their customers for these products.
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