Henkel increases price of industrial adhesives
Dubai, March 20, 2011
Henkel has announced a price increase for certain product groups of its industrial adhesives range with immediate effect, a statement said.
"Increase amounts will vary based on market segment and technology. On average, the price increases will range from 10 to 25 percent," the statement said.
"The price increase is attributable to ongoing escalation of raw material costs over the last 15 months, especially affecting oil and natural gas based products. Continual spikes in global demand, coupled with capacity constraints in primary chemical, rosin, and resin feed stocks, have further tightened supply, have driven raw material prices upward," it said.
For this reason, further price increases will become necessary in the following categories: hotmelts, polyurethane, water based adhesives and surface treatment products, the statement added.
"Henkel feels compelled to take this step in order to further ensure delivery of the same high quality product and service standards expected by its customers."
Henkel operates worldwide with leading brands and technologies in three business areas: Laundry & Home Care, Cosmetics/Toiletries and Adhesive Technologies.
Founded in 1876, Henkel holds globally leading market positions both in the consumer and industrial businesses with well-known brands such as Persil, Schwarzkopf and Loctite. - TradeArabia News Service