SCHENECTADY, N.Y.—SI Group, a global supplier of performance additives, process solutions, pharmaceutical ingredients and chemical intermediates, will increase the cost of its rubber and adhesive additives by up to 25 percent.
The price hike is effective immediately or as customer contracts allow, according to SI Group.
"As a result of significant inflationary pressures impacting the cost of materials, transportation and operations, as well as regional demand increases, we must adjust our product pricing," said Robert Kaiser, vice president of Rubber and Adhesives Solutions at SI Group. "Despite ongoing efforts to mitigate the impact of the market conditions on our customers, we must adjust pricing to reflect today's market reality."
SI Group said its sales representatives "will communicate new pricing information with existing customers for all affected products."
