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AkzoNobel Powder Coatings Price Review - West Europe

Published on 2010-05-28. Author : SpecialChem

AkzoNobel Powder Coatings Western Europe business announced that it will raise prices for certain products in response to the rapid rise of raw material prices. The exact price increase will vary by product depending on their technology base.

Gordon Macleman, Managing Director of the Sub Business Unit Powder Coatings Europe West explains: "In recent months we have seen strong increases in the price of various raw materials used in the production of powder coatings. Depending upon the technology base of the product, the raw materials prices have increased by between 10 and 25%."

The biggest increases have occurred in the price of epoxy resins, but there have also been strong increases in the prices of polyester resins, titanium dioxide and pigments. Macleman continues "Given the scale of these price increases, even our aggressive initiatives of cost reduction and efficiency improvement are simply not enough to compensate. We have no choice but to recover some of the raw material increases we have absorbed over the past months and secure that we can continue to deliver optimal products and services to our customers."

"In some instances we have also been faced with shortages of key raw materials. A number of suppliers in the industry have even invoked the "force majeure" clause in their supply contract. Our strong global position has allowed us to protect the interests of our customers and to secure a consistent supply of our product".

About AkzoNobel:

AkzoNobel is proud to be one of the world's leading industrial companies. Based in Amsterdam, the Netherlands, we make and supply a wide range of paints, coatings and specialty chemicals - 2009 revenue totaled €13.9 billion. In fact, we are the largest global paints and coatings company. As a major producer of specialty chemicals we supply industries worldwide with quality ingredients for life's essentials. We think about the future, but act in the present. We're passionate about introducing new ideas and developing sustainable answers for our customers. That's why our 57,000 employees - who are based in more than 80 countries - are committed to excellence and delivering Tomorrow's Answers Today™.

Source: AkzoNobel


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