DuPont Performance Coatings will increase prices across all of its product lines by up to 20% and more for some specific products or customers in Europe, the Middle East and Africa. This increase applies to all coatings, particularly Industrial Liquid, Powder Coatings and the OEM automotive business. The price increase will be implemented in April 2011. This increase comes as a result of the significant increase in the cost of petrochemical derivatives and other basic commodities over the last year, in addition to developing markets increased consumption of these raw materials. These factors have created major sustained increases in paint raw material costs which are affecting the whole EMEA region across the DuPont Performance Coatings segments. The company has implemented cost cutting programs to offset these higher costs, but they are no longer keeping pace with the continued increase in raw materials and energy prices.
