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| 2009-03-27 |
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SABIC Europe to increase PE price by 80 euro/mt
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SABIC Europe (www.sabic-europe.com) announced recently that it will increase in Europe the price for deliveries from April of all SABIC LD, LLD and HDPE materials by 80 euro/mt. "Due to the global economic downturn, at the end of last year we saw a steep decline in global polymer prices, including that of SABIC PE", said Eric Hogenboom, SABIC Business Unit Director LD/LLDPE. He continued, "The steep global decline in demand for polymers and other petrochemical products lead to the industry lowering its prices". Advert "During the first quarter of this year demand has recovered slightly, however, the pricing for our products needs adjustment in light of a volatile but upwards trend in raw material prices.", Dieter Hollmann, Business Unit Director HDPE adds. "SABIC has a strong desire to restore our product prices within normal operating levels; hence the announced price increases for April deliveries".
As a further measure to protect itself and our customers from the forces of the global economic downturn, SABIC Europe is currently taking additional measures to reduce operating costs, in order to minimize price volatility. |
SABIC Europe BV, Sittard, Netherlands
