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| Sunday, May 11, 2008 You are on : Home >> News >> TechNova News |
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Chemicals Price Revision : Effective April 16, 2008 Dear Customer, Continuing with our declared policy of complete transparency concerning price revision and our self-imposed guideline to provide you with full information, we have prepared this document of facts for your information. Crude price escalation is evident to all of us. According to the industry experts, petroleum solvent prices are expected to continue in the upward spiral for the foreseeable future. This situation has directly impacted the Press Washes and emulsion product range. This also has a direct impact on packaging material. At TechNova, we are committed to work with total commitment to absorb the overhead costs through continuous improvement in productivity and operational efficiency. Direct input material cost increases above a certain level is beyond our control. The chart below gives a comprehensive picture of petroleum solvents price trend.  Packaging Material: Price trend of packaging material follows the petroleum prices since the key ingredients are derived out of petroleum. While we have passed on the direct cost of petroleum solvents through interim price corrections, we have been absorbing the corresponding increases in packaging material costs. Price trend of packaging materials are represented by the chart below:  Raw materials: Raw materials and consumables price increase ranges between 6 % and 46 %. While we have completely absorbed the seasonal inflation during the last two years, the price trend of key raw materials is beyond reasonable expectation.  Cost escalation Summary The summary of input cost increases of key raw materials other than petroleum solvents experienced by TechNova since our last price increase in October 2004 are as follows: Table 1: Cost escalation Data
Price Revision effective from April 16, 2008 As a result of the combined impact of all the facts presented above, we are forced to make a price correction. All efforts have been made to minimize the impact by distributing the costs to relevant product groups and pack sizes. Price increase data for TechNova Graphic Arts Chemicals Table 2: Price increase data (Rupees per Litre)
We sincerely appreciate your understanding and wholehearted support. We are committed to continued development of world-class products that reduce your cost-in-use and shall support you with highest standards of service. We renew our pledge to continue the policy of absorbing input cost increases to the best extent possible to avoid frequent price increases. However, this shall be limited to input materials other than petroleum solvents for reasons already explained. We stand committed to revise the prices downwards should there be decline in the current trend.
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