SCHENECTADY, NY – April 16, 2021 , a global leader in the innovative technology of performance additives, process solutions, active pharmaceutical ingredients, and chemical intermediates announced today a price increase for its portfolio of additives sold into the plastics market of up to 20% depending on the product line and region. The price increase is effective immediately, or as contracts allow, and is in addition to all previously announced increases.
The price increase is in response to changing market conditions and is required to ensure SI Group can continue to deliver high-quality additive solutions and security of supply to our customers in the plastics industry. “Due to several global events, we continue to face freight and raw material cost escalation. The increase also reflects demand dynamics that impact our additives used in plastics,” said Chuck Reardon, Vice President of Plastics Solutions.
SI Group’s sales representatives will communicate new pricing information with existing customers for all affected products.