Sorry folks, this just came in from Megapoxy…
Unfortunately due to substantial increases in prices of raw materials over the last 18 months, we have been forced to have a price increase on Megapoxy Products.
The Megapoxy Product that you currently purchase will increase as of 1st March 2019
The increases in raw material are being driven by three key factors:
Increasing oil prices – the current geopolitical unrest has driven oil prices up
Chinese Government pushing raw material manufactures to come up to world manufacturing standards, ones that are not able to or do not want to, are being shut down, which is creating a raw material shortage.
Weakening AUD v USD – the AUD has dropped significantly against the USD in recent times, driven by increasing interest rates in the US. This results in increasing cost to purchase raw materials from global suppliers.
Regrettably, these key raw material price drivers are forecast to continue throughout 2019 and beyond.
Due to the impact of these and other input cost movements, unfortunately we are no longer able to absorb these and are forced to pass the increases on.