DuPont to Raise Prices in Response to Higher Raw Material Costs
Posted on: Wednesday, 17 May 2006, 09:05 CDT
WILMINGTON, Del., May 17 /PRNewswire-FirstCall/ -- In response to continued increases in raw material costs, DuPont today announced that it will raise prices across most businesses.
In a report released today, DuPont economists cited limited refining capacity and the continuing impact of rising oil prices for the upward pressure on prices of commodity chemicals that serve as raw materials for many DuPont products.
"Global economic growth is driving up the demand and cost of raw materials," said Robert H. Shrouds, DuPont corporate economist. "In addition, DuPont's total raw material costs rose to another record high in the first quarter, up 16 percent from a year ago and up 85 percent since the first quarter of 2002. Even if the raw material costs decline over the remainder of 2006, they will remain well above the 2005 average level."
"Our primary focus is on healthy, profitable businesses that can continue to reinvent themselves and develop new products that help our customers differentiate themselves," said John C. Hodgson, senior vice president and chief marketing and sales officer. "The ongoing rise in raw materials and logistics costs require us to take additional pricing actions so that we can continue to meet the needs of our customers now and in the future."
The U.S. Producer Price Index for industrial chemicals, which rose 11 percent in 2003, 15 percent in 2004, and 14 percent in 2005, was up another 10 percent from its 2005 level in the first quarter of 2006.
DuPont is a science company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.
DuPont
CONTACT: Cathy Andriadis of DuPont, +1-302-774-4249, orcatherine.l.andriadis@usa.dupont.com
Web site: http://www.dupont.com/
Source: PRNewswire-FirstCall
Related Articles
- SYSCO Reports 8.7 Percent Sales Growth in Second Quarter and Diluted EPS of $0.33
- China's Economic Efficiency Indicators: Raw Chemical Materials, Products
- Penn Virginia Corporation Announces Results for Third Quarter of 2005; Reports Record Cash Flow
- Avista Corp. Reports Results for the Third Quarter of 2005
- Gartner Says Lower Prices and Mobility Drive Worldwide PC Shipments to 17 Percent Increase in Third Quarter of 2005
- Penn Virginia Corporation Announces Results for Second Quarter of 2005; Reports Record Cash Flow and Production
- CollaGenex Pharmaceuticals Reports Financial Results for the Second Quarter of 2005
- Avista Corp. Reports Earnings for the Second Quarter of 2005
- Gartner Says Worldwide PC Market Experiences Better Than Expected Growth As Shipments Increase 15 Percent in Second Quarter of 2005
- XO Communications VoIP Traffic Exceeds More Than 1.6 Billion Minutes in Second Quarter of 2005
 |
 |
User Comments (0)
RSS Feeds