PolyOne raises prices

Maker of of specialised polymer materials, services, PolyOne Corporation, today announced price increases of up to 20 per cent, a result of the ongoing, unprecedented escalation of costs associated with raw materials, energy and transportation.

PolyOne's materials solutions include engineered resins and compounds; colour and additive concentrates; thermoplastic elastomers; screen printing inks and dyes; low smoke and fume, zero halogen (LSFOH) compounds; plasticisers; general-purpose resins and compounds; and Geon vinyl resins and compounds.

The price increases will apply across all PolyOne business units and countries, with retrospective effect from 1 June, 15 June and 1 July 2008, depending on its current agreements. Specific price adjustments will depend upon each product's exposure to these cost increases, PolyOne said.

"In the past week, major industry suppliers have announced significant price increases on key raw materials," said Stephen D Newlin, chairman, president and chief executive officer. "These well-publicised increases and substantial escalation of energy and distribution costs have put considerable pressure on everyone in the value chain to move prudently to mitigate their effects."

"We owe it to our customers to provide them with solutions that create value and help them manage their total cost of operations. We're doing everything we can through our focus on operational excellence and supply chain efforts to reduce cost pressures. However, these recent developments compel us to take pricing actions that enable us to continue to support our customers with industry-leading products, services and support."

Headquartered outside of Cleveland, Ohio, PolyOne Corporation, with annual revenues of more than $2.7 billion, is a leading global provider of specialized polymer materials, services and solutions.