SI Issues Price Increase on Plastics Additives
Price hike is in response to changing market conditions and to ensure security of supply.
SI Group, Schenectady, New York, has issued a price increase of up to 20% depending on the product line and region for its portfolio of additives sold into the plastics market. Affected products included solid and liquid antioxidants, antioxidant blends, fully formulated additive NDB (not dust blends), UV stabilizers, impact modifiers and compatibilizers. The price increase is effective immediately, or as contracts allow, and is in addition to all previously announced increases. (In January, the company had issued an increase of up to 10% on all antioxidants.)
According to Chuck Reardon, v.p. of plastics solutions, the price increase is in response to changing market conditions and is required to ensure SI Group can continue to deliver high-quality additive solutions and security of supply to customers in the plastics industry. “Due to several global events, we continue to face freight and raw material cost escalation. The increase also reflects demand dynamics that impact our additives used in plastics.”
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