Continuing Raw Materials Price Increases Cited As Rationale
LEHIGH VALLEY, Pa. (February 26, 2003) — Air Products Polymers, L.P. today announced that, effective April 1, 2003, it will implement in the United States and Canada a three-cent ($0.030) per wet pound price increase for acrylic-based polymers marketed by the company under the Flexcryl® trademark.
This price adjustment is being driven by continued increases in raw materials and feedstock 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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