Lucite® is committed to a strategy for re-investment

11 May 2005 Southampton, UK

Lucite International, the world’s largest producer of Methyl Methacrylate (MMA), will increase the price of Lucite®, its leading brand of cast acrylic for sanitary ware, by €170 per tonne for all despatches made from 1 July 2005. The price increase applies to Lucite’s customers in Europe, Africa and the Middle East and is a necessary response to the continuing high levels of raw material and utility prices in the first half of 2005. Higher input costs have continued to erode the Company’s margins for its acrylic sheet to a point where an adjustment is now critical. Lucite must recover its margins, which have been eroded as a consequence of a protracted period of strong raw material costs in order to attract re-investment for the long-term.

Paul Henderson, Vice President of Lucite International in Europe, Africa and the Middle East (EAME) comments: “Lucite International has built a strong global business for its sanitary ware products, which remain at the core of the Company’s strategy for future growth. We are absolutely committed to delivering competitive advantage through our products and services and to supporting the growth and development of the bathroom industry.” He continues: “We place a very high value on the business that we do together with our customers. This increase is essential for our margin recovery plan, which will enable us to continue re-investment in the broader Lucite® offer and to address the challenges of this dynamic market place.”

Lucite International has a strong track record of providing value and service on the back of consistently high quality products. The Company’s growing portfolio of Lucite®-based product solutions continue to inspire the bathroom industry and are seen increasingly in some of the world’s most innovative and stylish branded products. Last year, Lucite International launched a new website, www.lucitesolutions.com featuring the entire product portfolio together with a unique ‘solutions finder’ tool. It is just one example of Lucite International’s determination to lead with new ideas that generate value.

Being responsive to market dynamics is critically important for Lucite International and with demand for MMA growing faster than supply, the Company is constantly seeking new efficiencies. Its’ Manufacturing Excellence programme continues to deliver production optimisation – many sites have already moved to three-yearly overhauls as opposed to the industry norm of every two years. Costs have been taken out of the business through rationalisation across all functions, purchasing improvements and a consolidation of logistics.

To view the new Lucite Solutions website click here 

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