Waalwijk, The Netherlands, November 2nd 2018, IGM Resins issued the following statement to the market concerning the increasing cost of photoinitiator manufacture.
The cost of compliance with increasingly stringent environmental protection legislation, waste water treatment and solid chemical waste disposal continues to have a major impact on the price of feedstock and photoinitiator production. The capital costs of compliance, in addition to operational costs, are also increasing significantly and continue to have a major impact across the fine chemical industry supply chain.
A well-defined process efficiency programme designed to reduce costly waste from operations is underway at all our sites and IGM is actively pursuing backward integration of key feedstock through acquisition and major investments to both mitigate cost increases and ensure stable supply security.
Increasing feedstock prices, waste treatment, and additional capital costs are absorbed by IGM as far as possible but as the overall cost of operations continues to escalate we have no option but to pass a portion of the increased cost through to the market by way of sales price increases across our portfolio of Photoinitiator products.
Adjustments will be communicated to customers by the sales management team and implemented as contract terms permit.