RESEARCH TRIANGLE PARK, N.C. – Reichhold has raised the price of all unsaturated polyester resins sold in the U.S., Mexico and Canada by $.03 per pound effective for orders shipped on or after February 9, it reported in a recent statement.
"We had hoped for relief from raw materials pressures throughout 2003," said Ken Moran, Reichhold director of sales, North America & Mexico. "That softening did not occur, necessitating this price increase."
Recent raw material increases include spikes in styrene monomer, which has been forced up by increases in the price of crude oil and natural gas, according to the company.
"Reichhold has worked diligently to reduce manufacturing costs," said Reichhold Senior Vice President, Commercial, Bruce Fawcett. "And, while we are continuing to make progress in that effort, rising raw materials costs require that Reichhold recoup its costs. Reichhold continues to invest in its business with capacity increases at our Morris, Ill. manufacturing site and other investments designed to drive productivity and ensure consistent product quality."
Fawcett added that customers’ local Reichhold representatives can answer questions related to the pricing adjustment.
- For more of the latest news, click here.