MOSCOW (MRC) -- AOC Resins (Collierville, Tennessee) has announced a price increase for its entire portfolio of Unsaturated Polyester (UPR) and Epoxy Vinyl Ester (VE) resins, and its Neoxil Sizings & Binders products sold in Europe, Middle East and Africa (EMEA), as per the company's press release.
The price increase will take effect on October 1, or as soon as contracts allow, and will be EUR100-200 per ton (depending on resin chemistry).
The price rise was caused by steep increases in energy prices, fees for logistics services (increasing as a result of reduced capacity availability), and the cost of raw materials, sai AOC on its site.
“In addition, the availability of key raw materials from our contract suppliers has been severely hampered and we are continuing to have to resort to other, significantly more expensive, sources. This leaves us no choice but to further raise the prices of our products as a result, realizing that supply can continue to be somewhat irregular given these additional supply routes”, explains Fons Harbers, Vice President Marketing & Sales EMEA of AOC.
As MRC informed earlier, in October 2020, AOC, Kaprain and Spolchemie announced they had reached agreement on AOC acquiring the Unsaturated Polyester Resin (UPR) manufacturing operations located at the Spolchemie site in Usti nad Labem (Czech Republic). This footprint extension will allow AOC to further improve service and logistics to its customers in Central/ Eastern Europe as well as in Germany, and will make new products (e.g. based on recycled PET) available for customers around Europe.
According to MRC's ScanPlast report, the estimated PET consumption in Russia reached 59,050 tonnes in July, 2021, up by 9% year on year. Russia's overall PET consumption totalled 470,250 tonnes in the first seven months of 2021, up by 12% year on year.
AOC is the leading global supplier of specialty resins and materials utilized in a wide range of applications including Coatings and Protective Barriers, Colorants and Visual Effects, Adhesives and Specialties, and Composite resins. With strong capabilities worldwide in manufacturing and science, the company works closely with customers to deliver unrivaled quality, service, and reliability for today and create innovative solutions for tomorrow.