The increase of US$0.05/lb is effective for all orders shipped on, or after, 1 July.
“This price increase is necessitated by the need to maintain break-even economics, which is essential for sustained viability,” says Al Naser, Reichhold commercial vice president, Composites North America. “Furthermore, there is upward pressure on key raw material prices driven by crude oil and feedstock prices as well as limitations in raw material supply due to capacity restrictions and reduced yields resulting from the trend towards lighter refinery feedstocks."
In May, Reichhold announced a price increase prices on all products for the European composites industry, to come into effect on 15 June.
Reichhold is headquartered in Research Triangle Park, North Carolina, USA.