The price increase of €100/tonne will apply to all invoiced orders from 19 September 2011, subject to existing customer contracts.
Scott Bader reports that this price increase is in response to significant additional increases in the costs of key gel-coat and pigment related raw materials, especially titanium dioxide, the cost of which has risen dramatically in recent weeks.
Based on current forecasts, Scott Bader expects gel-coat and pigments raw material prices to remain at these higher levels for the foreseeable future as a result of ongoing global supply shortages and strong demand.
Scott Bader warns further price increases may be necessary if continued increases in oil, energy and raw material prices occur.