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Reichhold announced a price increase of 100 Euros per metric ton on products for its Composites business in Europe, effective immediately.
“This price increase is necessary due to the continuing strength in crude oil and styrene prices,” explained Reichhold’s Director of European Sales Alberto Piccinotti. “The uncertainty in oil-producing nations such as Venezuela and in the Middle East is generating increased market volatility and driving an increase in styrene monomer costs.”
“Reichhold’s customers have our commitment that we will continue to drive productivity in our operations to minimize the need for this type of action,” stated Julia Harp, senior vice president of Global Composites.
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