RICKMANSWORTH, England (May 18, 2010)—Stepan Co.'s European division said it will raise prices for its Stepanpol aromatic polyester polyols by $124 to $186 per metric ton on July 1 to counteract rising feedstock costs.
The high cost of primary feed-stocks, ortho-xylene and di-ethylene glycol is forcing the company to make the price hike in Europe, according to Roger Stubbs, Stepan vice president European polymers, for Stepan, in the company announcement. The firm said its feedstock costs are 30-percent higher than at the end of 2009, and 70 percent above the level of a year ago.
Stepan increased prices for the polyurethane component in the second quarter, but raw material costs continued to surge, the firm said.