Dow Europe raises polystyrene prices
Wed Jun 22, 2005 09:13 AM ET
ZURICH, June 22 (Reuters) - Dow Europe GmbH, the European subsidiary of the U.S chemicals giant, has raised prices of all its polystyrene resins effective next month, the company said on Wednesday. The firm will charge 100 euros ($121.9) more per metric tonne on all grades from July 1, Dow said in a statement released at its European headquarters in Switzerland.
"The present polystyrene prices do not allow for acceptable margins for Dow given that raw material and energy costs for Dow are increasing again," the company said.
Dow has about 2.3 metric tonnes of polystyrene capacity worldwide, with plants in Europe, the Americas and the Asia/Pacific region, the firm said.
Chemicals companies around the world have suffered from the high price of oil as well as raw materials cost increases, which have taken a bite out of profits as firms have found it difficult to pass on those costs to their customers.
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