Reichhold Announces General Price Increase for Coating Resins Sold in North America

24-Jun-2003

Reichhold's Global Coating and Performance resins business announced a general price increase today of $0.06 per pound for all solvent and waterbased product lines. Specific chemistries include alkyds, polyesters, OMUs, urethane and waterbased emulsions, as well as epoxy curing agents. An increase of $0.10 per pound will be applied to all Epotuf® epoxy resins. These increases are for both list and off-list prices and are effective for all North American orders shipped on or after July 1, 2003, or as contracts allow.

"The prolonged rise of raw material, energy and transportation costs, particularly the extreme escalation of natural gas prices, has resulted in significant margin erosions for our business," said Wolfgang Regele, vice president for Reichhold's Global Coating and Performance Resins business. "With industry analysts predicting no immediate relief, we must take action to return this business to profitability levels that justify the continued reinvestment in facilities and new technology development," Regele concluded.

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