The price increase is effective as of 18 January 2010.
According to Reichhold, the main reason for this price increase is the recent, sharp increase of styrene price caused by an increase in feedstocks (benzene) and capacity curtailment actions. Styrene supply in Europe continues to be disrupted by a combination of planned turnarounds as well as unplanned plant problems, the company says, and strong demand in Asia is pulling spot material out of the US and Europe. In addition, all key feedstocks and raw materials utilised to manufacture polyester resins and related products are showing increasing pricing trends.
Reichhold, headquartered in Research Triangle Park, North Carolina, USA, manufactures unsaturated polyester resins and coating resins for the industrial, transportation, building and construction, marine, consumer and graphic arts markets.