MIDLAND, Mich. (AP) - Dow Chemical Co. said Wednesday it will raise all
product prices by as much as 20 percent, beginning Sunday to offset "staggering"
energy and feedstock costs.
The specific size of price increases will depend on each product's exposure
to rising energy, feedstock and transportation costs.
"Our first-quarter feedstock and energy bill leapt a staggering 42 percent
year over year, and that trajectory has continued, with the cost of oil and
natural gas climbing ever higher," Chief Executive Andrew N. Liveris said in a
statement.
Dow spent $8 billion on energy and hydrocarbon-based feedstock costs in
2002. At the current rate, those costs would climb to $32 billion this year, the
diversified chemical maker said.
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