Songwon Industrial Co., Ltd. has announced a 15% price increase for its Polymer Stabilizers in Japan. The increase is effective November 15, 2014, or as contracts allow.
The price adjustment is necessary to offset the unfavorable impact caused by the depreciation of the Japanese yen against the U.S. dollar and other major currencies over the past twenty four months. Dieter Morath, Executive Vice President of Songwon International AG commented: "Until now, Songwon has absorbed these impacts but we are not able to do this any longer. To ensure that we remain in a strong position to face future market challenges, it is necessary to bring our business back to reasonable profit margins.
The price increase affects all of Songwon's Polymer Stabilizers, including "SONGNOX Antioxidants and blends, "SONGNOX Thioesters, "SABOSTAB HALS, "SONGSORB UVAs, "SONGSORB Hydroxybenzoates and "SONGNOX OPS products.Weitere News im plasticker