West Paterson, NJ -- Cytec Industries Inc. has announced to its customers a general price increase for its entire range of Liquid Coating Resins and Additives in Europe, Middle East and Africa. Price increases will range from 5 to 15% and take effect on all shipments on or after July 15, 2008. Cytec will also review its order-sized pricing system, to further encourage the consolidation of orders.
These increases are driven by the unprecedented and relentless cost escalation of raw materials, energy, packaging and freight. Despite ongoing cost and productivity improvement initiatives, the only way for Cytec to recover these cost increases is by raising prices.