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Bayer MaterialScience raises prices for TPU resins
Effective November 15th, 2007, Bayer MaterialScience is raising its sales prices for Thermoplastic Polyurethane (TPU) resins in the Europe, Middle East, Africa (EMEA) and Latin America regions by EUR 0.30 per kilogram.
Bayer MaterialScience wishes to continue offering its customers a modern and comprehensive range of TPU resins at market-driven availability. Patrick Barth, head of Bayer MaterialScience's EMEA and Latin America TPU business: "It is our mission to sustainably support the growth of the TPU resins market. Continuous R&D efforts and the availability of production capacities in line with market needs are key for that. To do so, we need to balance the ongoing cost increases. Steady improvement of our efficiency has enabled us to partly compensate for rallying costs. Nevertheless rising quotations for basic chemical raw materials have deteriorated our margins. This price increase is essential to restore our profitability and allow continuation of support for TPU resins as a specialty." All existing contractual obligations will be met.