Fenzi to increase prices by up to 15 percent in April

In recent months, speculation and rising global demand have pushed up prices of a number of chemical raw materials, including polymers, resins and plasticizers, the fundamental raw materials for Italy-based Fenzi group’s paints and sealants. A shortage of raw materials alsois exerting further pressure on prices, and no short-term turnaround is predicted, according to a Feb. 21 release from the company.

In order to maintain high quality products, the Fenzi group will apply priceincreases of up to 15 percentto all its products in April 2011.

"We recognize the difficulties that these increases may represent for our customers, said Alessandro Fenzi, managing director of the group, in the release. "Unfortunately, as things stand at the moment, people like us who, for 70 years now, have refused to compromise on the quality of our products and raw materials, have no other alternative."