TOKYO, Jan 25, 2017 - (ACN Newswire) - Showa Denko ("SDK"; TSE:4004) has decided to increase its chloroprene rubber price globally. The new price will be effective from February 16, 2017. This increase is additional to our last price-change announcement on November 8, 2016 for European and Asian markets.
We have avoided raising our prices for as long as possible, but we can no longer prolong the inevitable. The price will be increased by US$400/m.t. (US$0.18/lb.) or more for US-dollar-based transactions, or by EUR 360/m.t. for euro-based transactions. The rate of increase may differ between areas and customers while will be subject to the terms of applicable contracts.
Due to rising key material costs, the current chloroprene rubber price does not fully reflect the increases in production costs and other business circumstances. Thus, SDK has concluded that it has no alternative but to raise price in order to ensure the stable supply of chloroprene rubber and the continuation of its business.
About Showa Denko K.K.
Showa Denko K.K. (SDK; TSE:4004, ADR:SHWDY), a major manufacturer of chemical products, serves a wide range of fields from heavy industry to electronics and computer industries. The Petrochemicals Sector provides cracker products such as ethylene and propylene, the Chemicals Sector provides industrial, high-performance and high-purity gases and chemicals for semicon and other industries, and the Inorganics Sector provides ceramic products, such as alumina, abrasives, refractory and graphite electrodes and fine carbon products. The Aluminum Sector provides aluminum materials and high-value-added fabricated aluminum, the Electronics Sector provides HD media, compound semiconductors such as ultra high-bright LEDs and rare earth magnetic alloys, and the Advanced Battery Materials Department (ABM) provides lithium-ion battery components. For more information, please visit www.sdk.co.jp/english/.
Public Relations Office
Jan 25, 2017 12:30 HKT/SGT
Source: Showa Denko K.K.
Showa Denko K.K. (TSE: 4004)
Topic: Press release summary
From the Asia Corporate News Network
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