The price increase of US$0.05/lb is effective for all orders shipped on or after 1 September 2009.
“This price increase is required because key raw material prices continue to increase and can no longer be absorbed,” says Al Naser, Reichhold commercial vice president, Composites North America. “This price increase will not restore margins as it still does not completely offset the increased raw material costs recently incurred.”
“This upward pressure continues to be driven by global supply and demand where supply of critical raw material precursors have been reduced due to lower refinery run rates and reduced yields as a result of the continuing trend towards lighter refinery feedstocks,” Naser adds.
Reichhold, headquartered in Research Triangle Park, North Carolina, USA, manufactures unsaturated polyester resins and supplies coating resins for the industrial, transportation, building and construction, marine, consumer and graphic arts markets.