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| November 22, 2004 |
| Mitsubishi Rayon Co., Ltd. |
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Announcement of revision to prices
of ACRYPET™
brand acrylic resin molding material |
|
Mitsubishi Rayon Co., Ltd. hereby announces to
users of its products that price raises ranging from ¥25
per kilogram to ¥150 per kilogram will be implemented on
all acrylic molding resin material under the Company's ACRYPET
brand name, with effect from deliveries leaving our plants on
December 1, 2004.
The price of MMA
monomer – the immediate raw material from which ACRYPET
brand products are made – is still rising as a result
of a steep climb in the prices of acetone and methanol, and
a continuous uptrend is being seen in the market prices of naphtha
as well as of crude oil itself. These factors have been causing
a serious deterioration in the profit margin. Although we have
done our best to counter this deterioration through steps to
improve operational efficiency and streamline our overall organization,
we have, regrettably, reached the limits of what can be achieved
without resort to a price raise.
Demand for acrylic resin molding material
on both the domestic and export markets is extremely strong,
particularly for use in automobiles and light-guiding panels
for LCD backlights, and supply thus continues to be very tight.
In spite of this, our profitability has been severely constrained
by the steep rise in the price of MMA monomer, the raw material
for acrylic resin molding material. As the costs of producing
MMA monomer are projected to continue rising for some time to
come, we are following a plan of implementing staggered price
hikes. The December raise will be the third consecutive price
hike, after a first put into effect in March 2004 and a second
in September. The price raises will apply to all ACRYPET
brand products; details are as follows: |
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|
| General and IR Series |
¥25 per kilogram |
| UT Series |
¥50 per kilogram |
| WF Series |
¥100 per kilogram |
| PD & PF Series |
¥150 per kilogram |
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| 2.The new prices will be effective from deliveries
leaving our plants on December 1, 2004. |
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| For further inquiries, please contact: |
| Public and Investor Relations Office:
|
| e-mail:
koho@mrc.co.jp |
| Plastics Molding Materials Department,
Specialty Resins & Plastics Division: |
| e-mail:
acrypet@mrc.co.jp |
|
|
The contents shown herein are accurate as of the time of posting.
