KONGENS LYNGBY, Denmark - Coatings manufacturer Hempel announced increases in the prices of selected products. The company pointed to the rising cost of raw materials as the cause of the price increases.

"There are regional differences, but overall global prices are clearly rising," explained Michael Hansen, Executive Vice President and Chief Commercial Officer at Hempel. "We have done our best over the past months to absorb these price increases and limit the effect on our customers. We are working closely with our suppliers, our R&D and our manufacturing set-up, but increasing prices is a reality, and the trend is clearly continuing. We have no other option than to increase the prices of some of our products in our protective, marine, container, yacht and decorative segments."