Kustom Group announces approximately 20 percent price increase

Citation

(2011), "Kustom Group announces approximately 20 percent price increase", Pigment & Resin Technology, Vol. 40 No. 3. https://doi.org/10.1108/prt.2011.12940cab.008

Kustom Group announces approximately 20 percent price increase

Article Type: Industry news From: Pigment & Resin Technology, Volume 40, Issue 3

Kustom Group is announcing an approximate 20 percent price increase effective February 1, 2011 on its Kustom Blending and Var-Chem line of oil-based products.

Since the time that the company announced to the market its last price increase, costs have spiked significantly in the oil-based market. Kustom Group has had multiple increases by the petroleum solvent manufacturers and another huge increase in rosin resin costs. Some of these rosin resin increases are as much as 30 percent, which is on top of their earlier increases announced in September and October. The rosin resin situation has gotten so bad that some suppliers are putting the customers on allocation. Additional increases have also come from suppliers of vegetable oils, alkyds, waxes, hydrocarbon resins and ink driers.

Kustom Group continues to increase the price of each product only by the amount needed. Although an across the board increase would be more convenient, it would likely cause some products to be increased more than is required and so Kustom Group will not do this. The company feels its customers deserve to know that Kustom Group looked closely at each product that it produces.