Midland, MI - March 03, 2009
The Dow Chemical Company announced Friday that it will raise prices in North America for products in the Oxygenated Solvents portfolio as set forth in the Attachment to this press release effective April 1, 2009, or as contracts allow. This increase is required to address the continued escalation in raw material costs.
“The recent escalation in hydrocarbon costs has caused the gap between price and cost to narrow significantly,” says Martin Sutcliffe, global business director, Glycol Ethers. “Given the current market conditions, we have no choice but to fully implement this price increase.”
“Our margins have continued to decline and are currently at unacceptable levels,” says Mark Bassett, global business director, Solvents & Intermediates. “We must improve our margins, so we can afford to compete for raw materials and make the products our customers need.”
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Heather Gallegos
The Dow Chemical Company
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