SI Group Announced Price Hikes on Antioxidants
Driven by increases in raw material and freight costs, SI Group increases prices of its antioxidants.
An increase of up to 10% has been issued by SI Group, Schenectady, New York, applicable to its portfolio of antioxidants sold into the plastics market. The price increase is effective immediately or as contracts allow.
According to v.p. of plastics solutions Chuck Reardon, the price increase is in response to changing market conditions and is required to ensure SI Group can continue to deliver high-quality antioxidant solutions and security of supply to our customers in the plastics industry. “In addition to the sudden escalation of freight costs around the world, we’re facing significant cost increases and reduced availability of certain raw materials for our antioxidants used in plastics.” SI Group’s sales representatives will communicate new pricing information with existing customers for all affected products.
We recently reported on a similar move based on the same contributing factors made by Dover Chemical, applicable to that company’s organo-phosphite additives, including TNPP used as a process aid in polyolefin packaging.
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