Reichhold Announce Price Increases For North America
Reichhold have increased prices sold in North America
The company announced a price increase yesterday of $0.06 per pound on all unsaturated polyester resins, vinyl ester resins and flame retardant resins sold in North America for the composites industry. This increase is effective for all orders shipped on or after March 15th.
Bill Schramm, Vice-President Commercial North American Composites, stated;
Persistent escalation of raw material prices and a limited supply of some raw materials continue to increase our costs, leaving us no choice but to raise our prices. Raw material costs are expected to rise continually through the first quarter primarily as the result of numerous planned outages and increased demand. Crude oil continues to trade over $100 per barrel and the cost spread between oil and natural gas continues to favor the latter which yields less propylene available for conversion to many composites raw materials. We continue to aggressively work with our suppliers to mitigate these increases and appreciate the understanding of our customers as we continue to do everything possible to limit the impact of rising costs and limited raw material availability upon product pricing and supply.