DURHAM, N.C.--(BUSINESS WIRE)--Reichhold announced a price increase today of up to $0.06 USD per pound on all coconut alkyd resin products manufactured in the United States and Canada for the coatings industry. This increase is effective for all orders shipped on or after April 15th.
Julie Fuell, Sales Director North American Coatings, stated, “The depressed coconut crop outputs over the last two years brought about by typhoons, drought, and extreme rain have cut copra outputs by 25% and are the main driver for the spike in coconut oil prices. In addition, the recent unforeseen spike in demand for coconut water is impacting an already depressed crop. We appreciate the understanding of our customers as we continue to do everything possible to limit the impact of rising costs and limited raw material availability upon product pricing and supply.”
Reichhold Corporate Communications
Founded in 1927, Reichhold, with its world headquarters and technology center in Research Triangle Park, North Carolina, USA, is one of the world’s largest manufacturers of unsaturated polyester resins and a leading supplier of coating resins for the industrial, transportation, building and construction, marine, consumer and graphic arts markets. Reichhold has manufacturing operations throughout North America, Latin America, Europe, the Middle East and Asia.
Reichhold’s coatings brands for coconut containing alkyds are:
BECKOSOL® Solventborne Alkyds
KELSOL® Water-reducible Alkyds