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Both Scott Bader and Interplastic Corporations Molding Products Division will be increasing their prices this month.
Scott Bader is increasing the prices from its European production sites of all Crystic unsaturated polyester, DCPD, Crestapol and Vinyl Ester resins, plus all gelcoats, pigments, bonding pastes and Crystic Crestomer structural adhesive products by 130/te.
The new prices will be applied to all invoiced orders from Thursday 20th January 2011 onwards, subject to existing customer contracts.
Scott Bader say that this price rise is a necessary response to the ongoing increases in the costs of all key raw materials, such as styrene, anhydrides and glycols, whose prices started rising in October 2010 and have continued through Q4 2010. All forecasts indicate that these higher raw material prices will remain in place for the foreseeable future, with further increases expected in Q1 2010. The high price for crude oil, increasing demand from China and adverse winter weather in Europe are some of the factors behind these increases.
Malcolm Forsyth, European Commercial Director, Composites business division of Scott Bader commented: We are doing all we can to minimise and absorb the impact of these significant raw material price rises. However, with the latest sharp increases and the forecast of more to come in Q1 2011, we can no longer absorb them alone. We must now pass on some of these extra costs to customers in order to maintain sustainable operating business margins. Scott Bader continues to work in close partnership with our valued customers to maximize product and process efficiencies, where possible, to reduce the impact of these very necessary price increases.
Interplastic Corporations Molding Products Division (MPD) has said that the price of SMC products is increasing by $0.06 per pound. The price will go into effect on all shipments on or after January 15, 2011.
Almost all SMC raw material prices have increased since June 1, 2010. We have received price increase from all our fibreglass suppliers ranging from $0.05 – $0.10 per pound. Our resin suppliers have issued two price increases within the last three months totaling $0.10 per pound, explains Darrell Young, National Sales Manager.
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