As raw material prices continue to increase in 2018, leading coatings manufacturer Hempel announced today increases in sales prices of selected products.
Over the past two years, the cost of many raw materials used in the manufacturing of coatings has continued to rise.
"There are regional differences, but overall global prices are clearly rising," explains Michael Hansen, Executive Vice President & Chief Commercial Officer at Hempel.
He continues: "We have done our best over the past months to absorb these price increases and limit the effect on our customers. We are working closely with our suppliers, our R&D and our manufacturing set-up, but increasing prices is a reality and the trend is clearly continuing. We have no other option than to increase the prices of some of our products in our protective, marine, container, yacht and decorative segments."