Hempel to Increase Prices 5 to 15%

Tuesday, July 13, 2004
The sharply increasing raw material costs and their influence on the global economy now forces Hempel to react.

The oil price has been increasing and is currently at a record high. The majority of raw materials used in the paint industry are oil related. Paint raw materials such as epoxy resins have, over the past months, increased markedly, some even as much as 30%. Due to the general positive trend in the world economy, the price of metal is also under pressure, in particular Zinc and Copper. These metals constitute a major part of the cost of many protective and marine coatings.

Apart from the raw material cost increases the paint industry is faced with increasing demands from both federal and local authorities regarding raw material testing and registrations. These additional tasks have an extra impact on the cost of our products.

Hempel's first reaction to increasing costs is to exploit further rationalisations and productivity increases. This has been done, however, as the trend is continuing we are no longer in a position where we can absorb the increase. Therefore, we now see no other options than to increase our prices. The increases will vary from product to product depending on raw materials used. The level will be between 5 and 15%.

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Electronics

David Palacios is Director of Quality, Environment & Safety, SENER

The engineering and technology group SENER has brought together its Quality, Environment and Safety divisions into one unified Department. The move aims to reorganize

EMGS - New Contract in the Norwegian Sea

Electromagnetic Geoservices ASA (EMGS) announced an agreement from Statoil Petroleum AS for the Norwegian Sea. EMGS has now received a new contract from another oil and gas company worth USD 1.

Seagull Maritime Response on Safety, Security

Key areas of concern for seafarer safety and security in both marine and offshore operations have triggered the release of six new and one supplementary titles

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Pipelines Pod Propulsion Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1177 sec (8 req/sec)