- February 05, 2003, PRESS RELEASE
MIDLAND, MI, USA—Dow Chemical Co. reports, effective February 15, 2003, it will increase selling prices of its Integral, Trenchcoat, Covelle, and LDF specialty olefin films by US$0.05 per lb., as contracts permit.
Says William Lorden, Dow's global business director, "This price increase is necessary to begin to restore profitability to acceptable levels. The past 12 to 14 months have been a significant challenge for Dow, as we have been unable to fully offset rapidly rising raw material and manufacturing costs associated with our specialty olefin film products." He adds, "In 2003 these cost pressures are increasing; we are seeing significant increases in basic hydrocarbon feedstock and energy costs caused by events in the Middle East and Venezuela, leading to a very volatile market. The successful implementation of this price increase will allow us to continue to meet our customers' future product and service needs."
More about Dow films is available at dowfilms.com.