DuPont Announces Price Hike for Kevlar, Nomex Products
DuPont Advanced Fiber Systems (Wilmington, Del.) today announced a global price increase averaging 10 percent for DuPontTM Kevlar® and Nomex® products. The increase applies across multiple markets and applications and is effective July 1, or as contracts permit, the company said, adding it was taking the action in response to "extreme volatility in costs for raw materials, energy, transportation, and logistics, which cannot be totally offset by aggressive productivity and cost reduction measures."
In addition, the company said it is aggressively investing in Kevlar® and Nomex® to support the increasing global demand for these products. A previously announced $100 million expansion for Nomex® paper and fiber is on track for third-quarter startup. The most recently announced production expansions for Kevlar® at plant sites in Richmond, Va., and Cooper River, S.C., exceed $500 million with additional capacity to begin in 2009.
"These pricing actions are necessary to offset a portion of the dramatic increases in raw material, energy, and transportation costs, and to continue to invest in Kevlar® and Nomex®," said Thomas G. Powell, vice president and general manager for the Advanced Fiber Systems division. "We will continue our efforts to improve productivity and control costs to minimize the overall impact on our customers, and we remain committed to continuing to invest to meet their needs for growth."
DuPont is a science company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of products and services for markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, and transportation and apparel.