HORGEN, Switzerland - June 25, 2004 - Dow Europe GmbH* announced today that it will increase the prices of its synthetic rubber products by â‚¬150 /tonne. The price increase will be effective July 1st. The company blamed continued volatility in feedstock and energy prices combined with strong demand.
â€œThis price increase is driven by our need to restore margins to more acceptable levels which will allow us to meet customer needs in the long-term. The escalating feedstock costs combined with product prices that are unsustainable have meant a severe deterioration in our margin for multiple quarters. We simply need to restore our profitabilityâ€, said Craig Arnold, Product Manager for Dow's Rubber Business.