COLLIERVILLE, Tenn. & KINGSPORT, Tenn. – AOC, a global supplier of resins, gelcoats and other additives to the marine industry, will increase its prices by $0.05 per pound on all products sold in the U.S. and Canada, and fellow resins supplier Eastman Chemical Co. will increase its prices $0.05 per pound on all unsaturated polyester and vinyl ester resins, the companies said in separate press releases this morning.
AOC’s increases will take effect for products shipped on or after July 19, while Eastman will begin its increases for shipments delivered on or after July 15.
AOC said its increases were due to the rise in crude oil, natural gas and energy costs, as well as a rise in prices for all key ingredients, which have gone up almost monthly. Economic growth in China has also increased demand globally, resulting in reduced supply. AOC said in cannot continue to absorb the price increases.
Eastman cited the continued rising costs of feedstock raw materials, including crude oil and natural gas for its increases.
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