Eastman increases Specialty Plastics prices

Eastman Chemical Company today announced a global increase in the prices of its specialty plastics products effective March 1, 2003. A price increase of US$0.24 per kilogram will affect the DuraStar® polymer, Eastalloy® polymer, Eastar® copolyester, Eastman® copolyester, Ecdel® elastomer, Embrace® copolyester, Provista® copolymer and Cadence® copolyester product families. A price increase of US$0.18 per kilogram was announced for Eastapak® polyester, Eastar® polyester and Eastman® polyester. Eastobond® copolyester will increase US$0.44 per kilogram.

Eastman has not announced any price increases in more than two years thanks to its aggressive cost containment policies. However, the company reports they continue to be faced with increasing costs related to reinvestment in research and development, facilities, services and raw materials.

”The March 1 increases are necessary to support the continued research and development, growth and demand for these materials,” according to Phil Griswold, vice president of Eastman Specialty Plastics.

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