HORGEN, Switzerland—Cost volatility continues to increase across the plastics, latex binders and synthetic rubber markets, as Trinseo said Oct. 13 it will hike prices on these materials for products manufactured in Europe, the Middle East and Africa.
A surcharge of up to $580 per metric ton will take effect Oct. 27 as well, or as existing contract terms allow, and apply to "contract and spot prices for all Trinseo products produced in its European facilities."
"Since early 2020, the petrochemical industry has been greatly impacted by both severe disruptions in raw material availability and significant cost increases," Trinseo said in a press release announcing the price hike and surcharge.
The company stated that it has worked to allay the impact of these issues.
"In the past few weeks, an energy crisis in Europe has led to an unprecedented rise in utility costs and this impacts Trinseo both directly in production and also indirectly through the raw materials and services we purchase for the manufacturing process," the company said.
Trinseo said it will monitor the situation and adjust accordingly.
Trinseo had approximately $3 billion in net sales in 2020 and has 26 manufacturing sites around the world and approximately 3,800 employees.