Industry News

Hempel Announces Price Increases

Published on 2010-07-09. Author : SpecialChem

Faced with escalating prices for the raw materials required to manufacture quality coatings, we have decided to increase the price of some of our coatings. We are taking this step now to ensure that we can still supply the same quality products and service to our customers, despite the tough financial climate that we are operating in.

Since January 2010, the average price of raw materials used in coating manufacturing has increased significantly - ranging from 12 to 60 percent for key raw materials, such as epoxy, titanium dioxide, polyamides and acrylics/isocyanates - and this trend is expected to continue until the end of the year. In addition, we are facing a shortage of several materials - and as a result, we will be forced to increase the price of some of our coatings.

Jannik Allentoft, Group Vice President Marketing, comments: "The shortage of raw materials and the shift in prices is extremely unfortunate - and has forced us into making this change. However, I would like to emphasise that we are only increasing the prices of coatings directly affected, and we will continue to supply the same value-creating coatings and services that our customers have come to expect."

Source: Hempel

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