Continuing Raw Materials Price Increases Cited As Rationale
LEHIGH VALLEY, Pa. (February 12, 2003) — Air Products Polymers, L.P. today announced that effective, March 17, 2003, it will implement a two-and-one-half-cent ($0.025) per wet pound price increase for vinyl acetate homopolymer and copolymer emulsions, and all ethylene, vinyl chloride-based emulsions sold in the United States and Canada. These products are marketed by the company under the Airflex®, Flexbond® and Vinac® trademarks.
This price adjustment is being driven by continued increases in raw materials and feedstocks used in the manufacture and delivery of these products. "The pressure on the entire chain of oil and natural gas-based derivatives has been accelerating," said Wayne M. Mitchell, president of Air Products Polymers. "The impact on our cost base is such that we cannot continue to absorb these extreme cost pressures."
Air Products Polymers, L.P. is a joint venture between Air Products and Chemicals, Inc. (Allentown, Pa., NYSE:APD) and Wacker-Chemie GmbH (Munich, Germany) that manufactures and distributes latex polymers. |
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