RESEARCH TRIANGLE PARK, N.C. – Reichhold, a manufacturer and supplier of resins to the marine industry, will increase its price on all unsaturated polyester resins sold in the U.S. and Canada by $0.05 per pound for all orders shipped on or after July 15, the company said in a statement yesterday afternoon.
This latest adjustment is in addition to Reichhold’s four-cents per pound price increase that took effect June 1.
“The unremitting escalation of key raw material prices continues to far outpace our ability to recoup these costs and has regretfully left Reichhold with little alternative but to make another pricing adjustment,” said Bruce Fawcett, Reichhold senior vice president, commercial. “We are continuing to see upward pressures on styrene, glycols as well as saturated and unsaturated acids all of which are key materials in the production of our products.
“We thank all of our customers for their patience and continued business throughout this volatile time and encourage them to contact their local Reichhold representative if they have any questions regarding this increase.”