COLLIERVILLE, Tenn. and HOUSTON – AOC, a supplier of resins, gelcoats and other additives to the marine industry, will increase prices by US $0.05 per pound on all unsaturated polyester resins and gel coats, and US $0.15 on all vinyl ester resins sold in the United States and Canada shipped on or after Nov. 15, the company said this morning.
The company’s latest increases are in addition to increases effective Oct. 4.
“The continuing rise in raw material costs is responsible for the increase,” AOC wrote in its press release. “Damage from hurricane Ivan has reduced the availability of important sweet crude oil and natural gas. To date, 24 percent of the crude production and 12 percent of the natural gas production in the Gulf of Mexico is affected and is still not producing. In late October, natural gas futures for November closed up 30 percent from October.”
AOC said crude oil and natural gas supply is reduced at a time of increasing demand, causing a shortage of critical feedstocks. With its inability to absorb higher costs while continuing to invest in better performing and environmentally friendly products, selling prices must reflect current conditions, it added.
RSM also raising prices
Resolution Specialty Materials will increase its prices $.05 per pound for all unsaturated polyester and vinyl ester resins shipped on or after Nov. 15, the company said in its own release this morning.
RSM cited continued crude oil price increases and an increase in worldwide demand as key ingredients adding to raw material price pressure.
The company’s Composites Division produces a range of unsaturated polyester resins and vinyl ester resins for use in reinforced composites and cast polymer products. The customized resins are formulated for use in a variety of markets including, automotive, aerospace, construction, corrosion, consumer, infrastructure, marine, tub/shower, cured-in-place pipe, and others.
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