Reichhold, Inc. announced a price increase of $0.08 per pound on all unsaturated polyester resins, vinyl ester resins and flame retardant resins sold in North America for the composites industry. This increase is effective for all orders shipped on or after February 15th.
"Escalating raw material prices and limited supply of some raw materials continue to increase our costs, leaving us no choice but to raise our prices," said Bill Schramm, vice president commercial North American composites. "Raw material costs are expected to rise continually through the first quarter primarily the result of numerous planned outages and increased demand.
"Crude oil continues to trade over $100 per barrel and the cost spread between oil and natural gas continues to favor the latter which yields less propylene available for conversion to many composites raw materials," Schramm said.