DuPont increases product prices
Cologne, Germany, April 4, 2011
DuPont Performance Coatings today announced a price increase across all product lines in Europe, the Middle East and Africa.
This increase of up to 20 per cent and more for some specific products will be applied for all coatings, and particularly to industrial liquid, powder coatings and the OEM automotive business.
The price increase will be implemented in April 2011 and detailed customer communications will take place in the coming weeks, said a company statement.
“This measure is linked to very large increases in prices of petrochemical derivatives and other basic commodities over the last 12 months. This has created significant sustained increases in paint raw material costs, which are affecting the entire EMEA region across the DuPont Performance Coatings segments,” it said.
“DuPont Performance Coatings has implemented cost cutting programs to offset these higher costs, but those are no longer keeping pace with the continued increase in raw materials and energy prices,” said the company. – TradeArabia News Service