Dow Chemical raising prices 20 percent

Dow Chemical Co. said Wednesday it will raise all product prices by as much as 20 percent, beginning June 1, 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.

Read Full Article from CNNMoney.com

- Posted: 2008-05-28 08:50:41

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