Mitsubishi Rayon Co., Ltd. hereby notifies users of its products that a price raise of ¥25 per kilogram will be implemented on shipments of its ACRYPET brand of polymethyl methacrylate (PMMA) resin molding material, effective October 1, 2005.
The profitability of the Company’s production and selling operations of the PMMA molding material ACRYPET is being adversely impacted by steep rises in the price of the raw materials from which ACRYPET is produced, i.e. naphtha, and, ultimately, crude oil. While the Company has made every effort to cut production costs through streamlining, the magnitude of the raw material price increases exceeds our capacity to absorb while still making a profit.
Demand for molded PMMA materials is strong in both the Japanese and overseas markets, principally from users in the automotive industry and the electronic sector, where it is in use for light guiding panels for LCD backlights. As a result, supply is extremely tight. We recently announced our intention to raise the price of MMA monomer – the immediate precursor to PMMA – and in order to maintain the profitability of our PMMA operations, we are obliged to raise PMMA prices correspondingly.
The price raises will apply to all ACRYPET brand products; details are as follows. |
