Kuraray announces its decision to upwardly revise the prices of its elastomer-related products for shipments commencing February 1, 2014. Details of the revisions are given below.
Both the cost of utilities and the cost of the principal raw materials of elastomer-related products continue to hover at high levels due to prolonged high market prices and the continued devaluation of the yen since early 2013. The resulting increases in expenses are in excess of the Company's ability to compensate with independent cost-reduction efforts, causing rapid deterioration in earnings from elastomer-related products.
Under these circumstances, Kuraray has decided to implement the price revisions set out below to maintain a steady supply and to improve profitability.
|1．Scope of revision||Elastomer-related products |
|2．Effective date||Shipments from February 1, 2014|
|3．Price increases||¥30/kg for shipments in Japan |
US$0.30/kg for overseas shipments