02 June 2008 23:30 [Source: ICIS news]
HOUSTON (ICIS news)--PolyOne said on Monday it will increase prices for its products by up to 20%, becoming the third US company in less than a week to announce across-the-board increases.
The new prices take effect on 1 June, 15 June or 1 July, as dictated by agreements, the company said. The magnitude of the price increases depend on each product's exposure to increased costs.
"In the past week, major industry suppliers have announced significant price increases on key raw materials," according to a statement by chief executive Stephen Newlin.
"These well-publicised increases and substantial escalation of energy and distribution costs have put considerable pressure on everyone in the value chain to move prudently to mitigate their effects," Newlin said. "These recent developments compel us to take pricing actions that enable us to continue to support our customers with industry-leading products, services and support."To discuss issues facing the chemical industry go to ICIS connect
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