Reichhold Increases Price of Unsaturated Polyester Resins Sold in U.S.
Research Triangle Park, NC— Reichhold announced a price increase of $ .10 per pound on all unsaturated polyester resins sold in the United States and Canada. It is effective for orders shipped on or after September 6, 2004. This is in addition to the increase that took effect August 5.
“The entire unsaturated polyester industry is experiencing unprecedented raw materials escalation in both quantity and frequency,” said Bruce Fawcett, Reichhold senior vice president, commercial.
Benzene, a key component of styrene, continues on a record-setting pace, reaching all-time high pricing for the third month in a row in August. Another key polyester resin raw material, maleic anhydride, is on sales control, making supplies both limited and costly. Among other ingredients on the rise, diethylene glycol prices have increased over 100% in 2004.
“There is high demand in the marketplace right now,” Fawcett explained. “While we certainly welcome this increased volume, our profitability has been severely eroded due to the cost pressures associated with raw materials.”