COLLIERVILLE, Tenn. – AOC, a global supplier of resins, gelcoats and other additives to the marine industry, will increase its prices by $0.06 per pound on all products sold in the United States and Canada shipped on or after Jan. 1, the company reported yesterday in a press release.
The price hike is in addition to the increase effective Nov, 15.
AOC said rising raw material costs are responsible for the increase and that Maleic Anhydride and Propylene Glycol, two major raw materials, are in extremely tight supply, with recent price increases for both materials in the range of $0.10 - $0.12 per pound.
Prices for Ethylene Glycol, Diethylene Glycol, Phthalic Anhydride and Dicyclopentadiene have also continued to rise, increasing demand and causing shortages of some key materials.
“Both situations increase manufacturing costs in order to provide uninterrupted supply,” AOC said in its release. “With the inability to absorb higher costs while continuing to invest in better performing and environmentally friendly products, selling prices must reflect current conditions.”
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