The following letter was issued to all CYRO Molding Compounds customers on June 13, 2008.
We are in a period of unprecedented market volatility. Driven to a large extent by the pricing escalation in raw material like crude oil, we are experiencing increases in the costs of materials used in the production of our molding compounds, as well as in the costs of transportation and energy to run our plants.
To remain a viable supplier we must increase the price of all grades of our molding compounds by $0.12/lb effective with shipments on or after July 1, 2008. This includes all grades of:
ACRYLITE® acrylic polymers
ACRYLITE PLUS® impact acrylic polymers
XT® polymer acrylic-based multipolymer compounds
CYROLITE® acrylic-based multipolymer compounds
CYROVU® acrylic-based multipolymer compounds
Vu-Stat® acrylic-based multipolymer compounds
CYRO® R30 acrylic-based multipolymer molding and extrusion compounds
CYREX® acrylic-polycarbonate alloys
This action is not taken lightly. We recognize that our customers are experiencing the same challenges we face. We know that in turn you will need to make similar pricing decisions and have similar discussions with your own customers. Your Strategic Account Manager is available with information to assist you in discussing these changing market dynamics.
CYRO Industries values your business, appreciates your continued support and remains committed to supplying you with the highest-quality products and services in the acrylic industry.
Yours truly,
Wolfgang Kaster
General Manager
Molding Compounds