March 14, 2022
FOR IMMEDIATE RELEASE
WILMINGTON, Del. (USA) - Given the current global situation driving rapid escalation of raw material costs along with the sharp rise in crude oil resulting from the U.S. and U.K. governments’ decision to ban the purchase of Russian oil derivatives, Solenis is experiencing unprecedented weekly volatility in our cost to serve our customers. As a result, Solenis will move to monthly pricing on all product lines effective April 1, 2022.
All product lines and market segments are being severely impacted by these world events. We continue to focus our team on mitigating the impact of this situation on our customers’ operations by exhausting every pathway to procure raw materials to support customer demand and avoid run outs. However, these volumes are coming at an extremely high cost which requires our temporary shift to a monthly pricing structure.
We consider this a temporary situation, and we will continue to monitor this volatile situation and will keep lines of communication open to allow de-escalation of monthly pricing as energy pricing and other raw material feedstocks normalize.
FOR FURTHER INFORMATION
Vice President, Corporate Communications