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Reichhold announced a price increase today of 150 Euro per metric ton on all of its products sold to the composites industry in the EMEA region (Europe / Middle East / Africa)
This price increase was said to be necessary due to the continuous pressure from key cost components such as raw materials and energy, and will be effective for orders shipped on or after December 1, 2003.
“Business profitability must be restored at acceptable levels so that Reichhold can continue its investment in the business in order to improve service levels and technical support to our customers,” said Alberto Piccinotti, director of sales Europe & Middle East. “Reichhold is committed to drive productivity in its operations and all other functions to minimize the need for these types of pricing actions, but cannot continue to absorb all of the increasing costs we are facing,” Piccinotti continued.
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