Reichhold to increase prices in Europe
Reichhold announces a 100 EUR/MT price increase effective for all orders shipped on or after January 17, 2011 in Europe.
“Key raw material prices have continued to rise in Q4 2010 beyond our ability to absorb these additional costs and a price increase is necessary,” said Alberto Piccinotti, Reichhold commercial vice president, Composites EMEA.
After a short period of stability, raw material prices have started to increase again primarily due to the tight supply to demand ratio in our direct material supply and strong growth in Asian countries, especially China. At this time we can not see anything which will reverse this upward trend.
We appreciate our customers’ understanding of these difficult market conditions as we work to minimize the impact of rising costs upon our product pricing.
At the same time we continue to make the investments required to supply high quality, innovative products to support our customers efforts to develop and improve their products and create added value.
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