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Sika Corporation Industrial Division Announces Price Increase

Published on 2005-05-12. Author : SpecialChem

MADISON HEIGHTS, Mich. -- The Industry Division of Sika Corporation is raising prices to adjust to the continued escalating costs of a number of raw materials required to produce the company's products. Previous price adjustments have not recovered supplier cost hikes which are expected to persist throughout the remainder of the year. Selling prices for some of the division's products will be boosted by 5 to 10%.

"It is no secret that petroleum based raw materials, energy and transportation costs continue to rise. We remain committed to offset some of these costs with productivity and technology improvements, and by simply absorbing other costs. However, we have to pass on some portion of the most recent increases in order to maintain the performance integrity of our products and profitability targets for our shareholders," said Bill Pringle, the division's senior vice president.

The Industry Division of Sika Corporation is headquartered in Madison Heights, MI. The company is a leading supplier of adhesives and sealants serving automotive aftermarket, automotive OES, industrial, marine, and transportation markets. Product lines include polyurethane adhesives and sealants, hot melt adhesives, epoxies, acrylics, silicones and butyl sealants. Specific applications for Sika adhesives and sealants are found in the appliance, automotive glass replacement, automotive OES, fenestration, HVAC, marine, metal building, and transportation industries.

Sika Corporation is a supplier of specialty chemical products and industrial materials serving automotive, construction, and industry markets. Sika Corporation is a subsidiary of Sika AG, Baar, Switzerland. Sika has annual sales of approximately US$ 2.2 billion (CHF 2.6 billion), over 9,200 employees and operations in more than 68 countries.

Source: Sika Corporation

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