SAN JOSE, Calif. -- Dow Epoxy, a business unit of The Dow Chemical Co., announced plans to raise prices in North America and other regions as necessary.
Dow provides specialty epoxy materials for a range of applications. The price hikes are in response to the current climate of rising costs and shrinking margins.
Dow has incurred new hydrocarbon and energy costs of greater than $2 billion in the first quarter of this year alone and an additional $665 million so far in the second.
''Profit margins have substantially eroded in the face of step-change hydrocarbon and energy and other manufacturing costs, and the situation shows no signs of improvement,'' said Patrick Ho, business group president of Dow Epoxy & Specialty Chemicals, in a statement.