The price increase today of US$0.06 per pound is effective for all orders shipped on, or after, 7 March.
“Raw material prices and freight rates continue to escalate beyond our ability to absorb these additional costs and a price increase is necessary,” reports Al Naser, Reichhold commercial vice president, Composites North America. “Global supply and demand, certain feedstock restrictions, and the price spread between crude oil and natural gas, have all combined to drive up the prices of our key raw materials.”
Reichhold, headquartered in Research Triangle Park, North Carolina, USA, is a manufacturer of unsaturated polyester resins and a leading supplier of coating resins.