Unprecedented raw material costs and energy price rise results in increases.
DuPont Performance Coatings (DPC) has increased prices for its OEM automotive coatings products in North America. In the last 12 months, DPC has seen unprecedented increases in the prices of most petrochemical derivatives and other basic commodities upon which paint raw materials are based. In addition, worldwide growth regions have been consuming an increasing amount of the paint raw materials containing these common derivatives and commodities. These factors have created significant, sustained increases in paint raw material costs. Based on the magnitude of the increases, DPC said it is not able to offset these continued raw material and energy price increases. DPC recently communicated price increases in its industrial businesses and is now making similar adjustments to its OEM automotive coatings products. Specific customer communications will take place through the remainder of April 2011 and the increases will be implemented thereafter.