Frbiz.com Reported Raw Materials Increases for North America and Europe

Ashland Raise Price of North American Composite Products

Ashland Performance Materials is increasing the price of its portfolio of composite products sold in North America effective 1st February 2010.

Prices for unsaturated polyester resins, gelcoats, pigments and additives will increase by 6 cents per pound, and vinyl ester resins will increase by 9 cents per pound.

Ashland says that the increase is driven by ongoing and significant escalating costs in a majority of the raw materials found within these products.

Reichhold Increase Prices in Europe and North America

Reichhold is to increase the price of all unsaturated polyester resins by $0.06 per pound and all vinyl ester resins by $0.09 per pound for sales in North America on or after 1st February 2010.

"Key raw material prices continue to escalate beyond our ability to absorb these additional costs and a price increase is necessary," said Al Naser, Reichhold Commercial Vice President, Composites North America. "Critical raw material prices are being driven up by global trading of feedstocks with increased demand in Asia, reduced U.S. petrochemical plant available capacity, and higher energy costs," Naser continued.

"We appreciate the understanding of our customers as we work to limit the impact of rising costs upon product pricing," Naser added. "At the same time we are making the investments necessary to continue the supply of innovative and high quality products and services which add value for our customers and increase their competitiveness in the markets they serve," he concluded.

In addition to these North American price increases, Reichhold will also be adjusting their pricing for the European composite industry.

As of 18th January 18 2010, Riechhold will be increasing prices in Europe by 150 EUR/MT on all of its products.

The company states the main reason for this change is the recent, sharp increase of styrene price caused by an increase in feedstocks (benzene) and capacity curtailment actions.

In addition to that, all key feedstocks and raw materials utilized to manufacture polyester resins and related products are showing increasing pricing trends.
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