Reichhold increases prices on all products in Europe

Reichhold announced on Jan. 15 a €100 per metric ton price increase on all products for the European composites industry, effective Feb. 1.

Reichhold (Research Triangle Park, N.C.) on Jan. 15 announced a price increase of €100 per metric ton (€0.10/kg), effective for all orders shipped on or after Feb. 1, 2008, on all of its products sold to the composites industry in Europe.

"This increase is an unavoidable response to the continuously increasing prices of all main key feedstock and raw materials utilized to manufacture polyester resins,"explained Reichhold vice president of sales, EMEA, Alberto Piccinotti.

Reichhold says escalating crude oil prices combined with a tight balance between available raw material feedstock supplies and strong demand are driving up the cost of the raw materials in the region.