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USA：Reichhold to hike unsaturated polyester resin price by
$ 0.05/lbs in US and Canada w.e.f April 22 |
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2005-3-28
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One of the world''s largest supplier of unsaturated polyester resins company Reichhold announced a price increase of $ 0.05 per pound on all unsaturated polyester resins sold in the United States and Canada, effective for orders shipped on or after April 22. This is in addition to the increase which took effect March 21.
"Suppliers who depend on petroleum-based raw materials are continuing to see monthly cost increases," said Bill Schramm, North American business director for Reichhold''s composites business. "As a starting point, the price of crude oil has reached record levels ranging from $ 52 - $ 55 per barrel or more. Crude oil is currently trading at prices 45% - 50% higher than a year ago.
"In turn, the price of crude is continuing to drive up the cost of raw materials such as styrene, glycols and maleic anhydride," Schramm continued. "Rising costs on all fronts, including transportation, make it imperative that Reichhold recoup a portion of the costs we have absorbed through higher raw material prices."
"Reichhold continues to optimize our products in order to provide our customers with the best performance, quality and system costs in the composites industry," Schramm said. "We thank our customers for their understanding of this situation and will continue to do everything we can to meet their needs, both today and in the future."
Founded in 1927, Reichhold, with its world headquarters and technology center in Research Triangle Park, North Carolina, USA, is together with its parent, Dainippon Ink & Chemicals (Tokyo, 4631) the world’s largest manufacturer of unsaturated polyester resins and a leading supplier of coating resins for the industrial, transportation, building and construction, marine, consumer and graphic arts markets. Reichhold has manufacturing operations throughout North America, Latin America, the Middle East and Europe. |
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