Reichhold recently announced a price increase of 6 cents a pound on all unsaturated polyester and vinylester resins sold in North America for the composites industry.
This increase is in addition to all previously announced price increases and is effective for all orders shipped on or after Dec. 20.
"Key raw material prices continue to escalate beyond our ability to absorb these additional costs and a price increase is necessary," said Al Naser, Reichhold commercial vice president of composites for North America.
"Critical feedstock prices have risen, driven by the price of crude oil; feedstock demand has increased in China; and supply restrictions due to operating difficulties in several regions of the world have all contributed to apply upward pressure on the prices of many of our key raw materials," he added. "Furthermore, the continued spread between natural-gas and crude-oil prices has caused the yields of critical feedstocks to be significantly reduced at many North American refineries."