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| December 22, 2004 |
| Mitsubishi Rayon Co., Ltd. |
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| Announcement of revision to prices
of SHINKOLITE®-A acrylic sheets |
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Mitsubishi Rayon Co., Ltd. hereby announces to
users of its products that the price of SHINKOLITE-A
acrylic sheets in the domestic market will be raised by 7%,
and those of related products will be increased by 10%, effective
January 21, 2004.
A continuous uptrend is being
seen in the market prices of naphtha and crude oil, as well
as the price of methyl methacrylate (MMA) monomers -- the immediate
raw material from which acrylic sheets are made. These factors
are causing a serious deterioration in the profit margin. Although
we have done our best to counter this deterioration in profitability
through steps to improve operational efficiency and streamline
our overall organization, we have, regrettably, reached the
limits of what can be achieved without resorting to a price
rise.
Demand for acrylic sheets on both
the domestic and export markets is extremely strong, particularly
for use in electronics products, and supply continues to be
very tight.
As for the export price of SHINKOLITE-A
acrylic sheets, the price will be increased by 10%, effective
January 1, 2005. A further price hike of 10% will be implemented
on February 1, 2005.
Given
the situation, we have judged the increase in the domestic price
necessary for ensuring profitability.
The price hikes will apply to all SHINKOLITE-A
brand products. The details are as follows: |
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| 1. List of products and price-hike margins |
SHINKOLITE-A products (cast sheets and
extruded sheets): 7%
Related products (Piping, rods, etc.): 10% |
| 2. The new prices will be effective from deliveries
leaving our plants on January 21, 2004. |
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| For further inquiries, please contact: |
| Public and Investor Relations Office |
| e-mail:
koho@mrc.co.jp |
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The contents shown herein are accurate as of the time of posting.
