The price increase is US$0.10 per pound and is effective for all orders shipped on, or after, 1 February.
“Raw material prices and freight rates continue to escalate beyond our ability to absorb these additional costs and a price increase is necessary,” says Al Naser, Reichhold commercial vice president, Composites North America.
“Critical feedstock prices have continued to increase driven by the price of crude oil; increased feedstock demand in emerging markets; and certain feedstock supply restrictions, all of which have contributed to apply upward pressure on our raw material pricing. Furthermore, the ongoing price spread between natural gas and crude oil has caused the yields of critical feedstocks to be significantly reduced at many North American refineries.”
Reichhold, headquartered in Research Triangle Park, North Carolina, USA, is a leading manufacturer of unsaturated polyester resins and a supplier of coating resins for the industrial, transportation, building and construction, marine, consumer and graphic arts markets.