AMSTERDAM, The Netherlands - With immediate effect, AkzoNobel Powder Coatings will increase prices for its products in Europe East, Middle East, India and Africa.
Prices for all major raw materials used in the production of powder coatings have shown double-digit increases throughout 2010. AkzoNobel has absorbed the impact of these raw material price increases until now.
A recent rise in the price of raw materials (due to the scarcity of feedstocks in raw materials) has developed since the beginning of 2011 and is predicted to continue throughout the year.
These unprecedented rises have necessitated an immediate adjustment of powder coatings’ selling prices by March 1, 2011, at the very latest. Consequently, selling prices across all Powder Coatings product ranges will be increased throughout the EMEIA region by between 10 and 20 percent, for all supplies.
Additionally, AkzoNobel Powder Coatings Europe West announced that it will increase prices. Prices will increase by between 8.5 and 19 percent. This rise is in response to continued shortages in raw material supplies and the associated increase in raw material costs.
Customers will be informed individually of these increases in the coming weeks.