Huntsman Corp. has announced that, in response to sharp and sustained increases in its costs for energy, commodity and intermediate feedstocks, and transportation, it will raise prices for all products by as much as 25%, and also impose an energy surcharge across a range of products. The amount of each price increase and energy surcharge will vary by product, in accordance with costs attributed to each product.
"We hope we have seen the worst of the energy and
commodity price increases, but the impact of large scale speculation by traders
on the price of energy, in addition to the increased costs we are absorbing
from our raw material suppliers and service providers, cannot be
underestimated,” said Peter Huntsman, president and CEO. “Having implemented
aggressive internal steps to manage these costs, we are now reviewing all
Huntsman products and are announcing specific price increases, as well as an
energy surcharge to be applied to each product where warranted."
Each price increase and any necessary surcharge will be
effective immediately, or as soon as applicable contracts allow.
more information, visitwww.huntsman.com.
HUNTSMAN TO INCREASE PRICES AND IMPOSE ENERGY SURCHARGE
June 4, 2008