RESEARCH TRIANGLE PARK, N.C. – Reichhold, a manufacturer of unsaturated polyester resins, will increase prices $.05 per pound on all unsaturated polyester resins sold in the U.S. and Canada effective for orders shipped on or after March 22, the company said in a statement today.
The increase is in addition to the Feb. 9 increase announced in January, Reichhold said.
“The cost of raw materials has continued to rise steeply since we announced a price increase in January,” said Ken Moran, Reichhold director of sales, North America & Mexico. “In addition to petroleum-based raw materials, we have experienced sharp increases in natural gas pricing, a large factor in manufacturing costs.
Bruce Fawcett, Reichhold’s senior vice president, Commercial, said his company cannot absorb all of these costs.
“Unsaturated polyester resin manufacturers are being hit with unrelenting raw materials increases, compounded by high energy and transportation costs,” Fawcett said. “We encourage customers to speak directly with their local Reichhold representatives who can answer questions related to this pricing adjustment.”
Among others, polyester resin suppliers have been subjected to significant increases in the price of styrene monomer, glycols, and phthalic anhydride, the company said.