Reichhold Announces Price Increase for for Composites Products in North America
No Supply Interruption Expected for Reichhold Customers
Reichhold announced a price increase of $ 0.10 per pound for its unsaturated polyester resins and other products sold to the composites industry in North America. This increase is effective for all orders shipped on or after October 1, 2005.
"Our industry had begun to see an escalation of raw material costs that began in July and August," explains Reichhold Business Management Director Bill Schramm. "That trend had led us to a point that we were almost certainly going to have to announce an increase for October. However, the impact which Hurricane Katrina has had on fuel prices, and other petroleum-based raw materials hastened the need for this increase," Schramm said.
Supply of all feed stocks are very tight due to production shutdowns and transportation issues. This is having an immediate effect on basic polyester raw materials such as styrene, maleic anhydride, phthalic anhydride and all glycols.
Because of the strong relationships Reichhold has forged with its raw materials suppliers, the company expects that Reichhold customers will not experience supply interruptions as a result of Hurricane Katrina's effect on transportation and manufacturing of raw materials.
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