Rohm and Haas Company Announces Price Increases For Paint and Coatings Materials in North America
Posted on: Monday, 17 March 2008, 15:00 CDT
Rohm and Haas Company's (NYSE:ROH) Paint and Coatings Materials business today announced price increases for all of its products sold in North America. The increases include all acrylic and styrene-acrylic emulsions, solvent-borne polymers, vinyl-acetate-based emulsions, and additives sold to the architectural coatings, industrial coatings, traffic paint, floor care, construction and building products, and industrial nonwovens industries. The increases of $.04 per lb. for emulsion polymers and additives, $.05 to .08 per lb. for solvent-borne polymers, will take effect on April 1st, or as contracts allow.
In making the announcement, James Swanson, Vice President and General Manager, Paint and Coatings Materials North America said, "The cost of crude oil and natural gas are continuing to put unprecedented pressure on pricing, but we're also now seeing increases in the cost of raw materials that have been relatively stable until now." Swanson noted ammonia and sulfuric acid as examples. Swanson also noted that ongoing speculation in the commodity market has had a destabilizing effect on the price of raw materials.
Swanson assured customers that, "We are constantly looking for ways to control costs and to minimize their impact on our customers. We will continue these efforts and remain committed to bringing to the industry the high quality and technically superior products expected from Rohm and Haas."
About Rohm and Haas Company
Leading the way since 1909, Rohm and Haas is a global pioneer in the creation and development of innovative technologies and solutions for the specialty materials industry. The company's technologies are found in a wide range of industries including: Building and Construction, Electronics and Electronic Devices, Household Goods and Personal Care, Packaging and Paper, Transportation, Pharmaceutical and Medical, Water, Food and Food Related, and Industrial Process. Innovative Rohm and Haas technologies and solutions help to improve life every day, around the world. Based in Philadelphia, PA, the company generated annual sales of approximately $8.9 billion in 2007. Visit www.rohmhaas.com for more information. imagine the possibilities™
Source: Business Wire
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