Fenzi Group to Apply Across-the-Board Price Increases
February 22, 2011
The Fenzi Group announced it will apply increases of up to 15 percent to all its products in April 2011. According to the announcement, market trends for a large number of chemical raw materials have become extremely critical and speculation and rising global demand are pushing up prices. The company notes that shortages of some raw materials are also exerting further pressure on prices and a short-term turnaround is not predicted.
“We recognize the difficulties that these increases may represent for our customers,” said Alessandro Fenzi, the managing director of the group. “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.”