Baar, Switzerland-Sika AG is raising prices for various products, particularly for its Sikaflex family of polyurethane adhesives, by up to 5 percent.
"Burgeoning, broad-based market vitality and related increases in demand for goods and raw materials led to a renewed rise in purchasing costs during the first half of 2006," said a 24-May statement from the company.
"Sika was not spared the effects of these developments," the sealant and adhesive supplier continued. In response, Sika said, it has decided to raise prices by up to 5 percent for various products worldwide, in particular for PU-based Sikaflex.
Baar based Sika AG makes materials used in sealing, bonding, damping, reinforcing and protecting load-bearing structures. These products are used in construction (buildings and infrastructure construction) and in industry (vehicle, building component and equipment production).
The Swiss group's product lines include concrete admixtures, speciality mortars and sealants and adhesives. Sika, which has annual turnover of SwFr 2900 million ($2380 million), also makes damping and reinforcing materials, structural strengthening systems, industrial flooring and membranes.