Reichhold Announces Price Increase for Unsaturated Polyester Resins in North America
Advertisement
Reichhold, Inc. announced a $ .03 per pound price increase today on its full line of unsaturated polyester resins for all North American orders placed on or after February 7, 2003 across all regions, necessitated by the continued escalation in raw material costs.
"This price increase is necessary due to the continuing strength in styrene, benzene and natural gas prices," explained Reichhold Global Composites Senior Vice President Julia Harp. "The uncertainty in oil-producing nations such as Venezuela and in the Middle East is generating increased market volatility and driving an increase in styrene monomer costs," she said.
"The price of natural gas has doubled since March 2002, and crude oil has traded above $ 25 per barrel since March as well, and is currently about $30 per barrel. As a result of these significant and continuing conditions, we are required to take this action," Harp continued.
"Reichhold's customers have our commitment that we will continue to drive productivity in our operations to minimize the need for this type of action," Harp concluded.
Other news from the department price development
