Shin-Etsu announces silicone products price increase
Shin-Etsu Chemical Co., Ltd. announced that it will increase the prices both in Japan and overseas of its silicone products, one of its main products, effective for shipments made from September 1, 2008. The range of the price increases is 10% to 15%, depending on the product. Shin-Etsu had implemented an upward price adjustment of silicone products in March 2008; however, sharp increases in the prices of raw materials for silicone products and other materials have continued since then, and an additional price increase has become unavoidable.
The price of metallic silicon, the main raw material of silicone products, has had a further sharp increase due to such factors as strongly increased global demand, mainly for semiconductor and solar cell applications, a production decrease resulting from the effects of the earthquakes in main production areas and increased electric power costs. Furthermore, the prices of methanol and catalytic raw materials have remained at a high price range. In addition, with the increase in crude oil prices, costs such as for energy and oil-based solvents for processing raw materials as well as packaging materials and transportation costs are also continuing to rise.
Under these circumstances, Shin-Etsu has continued to make all-out company efforts to reduce manufacturing costs through the implementation of such measures as rationalization activities. Nevertheless, it has become difficult to absorb the entire burden of these increased costs only by internal company efforts. Thus, unavoidably, it has become necessary to implement an additional upward price adjustment of silicone products.
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