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19 Mar 2008 - United States / Canada
AOC announces price increase for United States and Canada
AOC, LLC announces a $0.07 price increase on all resins, gel coats, pigments, colorants and additives for the United States, Canada and export shipments for Latin America, effective for all shipments on and after Monday April 7, 2008.
Crude Oil (WTI) as traded on the NYMEX has reached a new milestone and is now trading in excess of $100 per barrel on a daily basis. Even as the U.S. economy continues to decline, the U.S. demand for crude oil continues to increase. The increase in crude oil price is also exacerbated by the decline of the U.S. dollar, which will likely continue to decline as the Federal Reserve indicates further interest rate cuts.
Natural Gas costs are also rising as NG consumption has increased and storage inventories have declined due to the U.S. experiencing one of the coldest winters in recent times. Critical feed stocks used to make the raw materials for Unsaturated Polyester Resin have risen and the trend will continue as raw material increases lag Crude Oil and Natural Gas price changes.
AOC is committed to the principles of Six Sigma Lean and other strategies that help offset the rising costs of manufacturing unsaturated polyesters. The company continues to invest in the future of composites and cast polymers through end-use market development and new technologies for improving the customer’s competitiveness in the global marketplace.
About AOC
AOC is a leading global supplier of resins, gel coats, colorants, additives and synergistic material systems for composites and cast polymers.
Source : AOC
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