SONGWON announces further price increase on its Polymer Stabilizers in Japan
Publishing date: 10.03.2015
SONGWON Industrial Co., Ltd. announced today that it will implement an additional up to 20% price increase for its entire range of Polymer Stabilizers in Japan, effective April 15, 2015, or as contracts allow.
The price increase implemented in November 2014 unfortunately did not offset the continued deterioration of the Japanese yen. Commenting, Dieter Morath, Executive Vice President of SONGWON International AG, said: “Since November, the very unfavorable impacts caused by the depreciation of the Japanese yen against other currencies have made this further price increase unavoidable. It is essential that we are in a strong position to attain reasonable profit margins which is why we cannot continue absorbing these impacts as we have done until now.”
The price increase affects all of SONGWON’s Polymer Stabilizers, including SONGNOX® Antioxidants and blends, SONGNOX® Thioesters, SONGSORB® UVAs, SONGSORB® Hydroxybenzoates and SONGNOX® OPS products.