BERLIN - Beckers Group announced that it will increase prices for its coil and industrial coatings products in Europe, Africa and Americas, effective June 1, 2017, or as contracts allow. The price adjustment is in response to higher raw material costs.
New regulations and regional raw material supply bottlenecks caused a significant shortening of certain chemical commodities, severely affecting the coatings industry. The company is facing prices for raw materials that have increased up to 30% over the last 12 months, according to Dr. Karsten Eller, Beckers, COO and responsible for procurement.
Details of the price increases will be communicated directly to the customers.