Rohm And Haas Powder Coatings Announces Price Increase
PHILADELPHIA, PA, October 11, 2005 - Over the last eighteen months the powder coatings industry has experienced unprecedented price increases for all key raw materials, and indications are that prices will remain elevated and extremely volatile in the near term. Rohm and Haas has tried to minimize the impact on its customers by developing a global cost reduction strategy that incorporates aggressive cost control in production, business processes and manufacturing footprint. These actions, however, have failed to offset the sustained increases in raw material costs imposed by our suppliers on a daily basis, and we must therefore increase prices accordingly.
M. Reggie Horne, general manager North America, Rohm and Haas Powder Coatings, said "These sustained increases in raw materials, energy, and freight costs and the effects of Hurricane Katrina have made the situation worse and we expect costs to remain significantly high well into 2006."
These increases will be applied to all powder coatings products and will become effective October 1, 2005, or as contracts allow.
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About Rohm and Haas Company
Rohm and Haas is a Philadelphia-based specialty materials company which makes products for the personal care, grocery, home and construction markets, and the electronics industry. The company had annual sales of approximately $7.3 billion in 2004 with operations in 27 countries. Additional information about Rohm and Haas can be found at www.rohmhaas.com.
About Rohm and Haas Powder Coatings
With over 40 years experience in powder coatings, Rohm and Haas is a leading global provider of high quality cost-effective powder finishing materials for a wide range of general industrial and specialized applications. This rich heritage brings a proud history of business integrity, batch-color consistency, customer care, innovation, and environmentally-friendly products. Rohm and Haas Powder Coatings serves the automotive, architectural, consumer durables, general metal finishing and industrial goods markets, with a choice of powder coatings suitable for applications as diverse as anti-graffiti surfaces in train stations, ceiling tiles in supermarkets, car wheels and trims and garden furniture. In addition, they are fast becoming architects' and interior designers' first choice when specifying colours and finishes to suit ever-changing fashions and trends. Thanks to the hard wearing, solvent-free ingredients and the wide choice of colors, powder coatings are a superior substitute for many wet paint finishes. Rohm and Haas Powder Coatings' products touch our lives all day, everyday.
To find out more about Rohm and Haas Powder Coatings or for photo requests, please contact:
Rachel Redshaw
Rohm and Haas Powder Coatings
Phone: +44 (0)1829 770353
E-mail address: rredshaw@rohmhaas.com
