Dow Chemical to raise prices by as much as 25% in July

"DOW will raise the price of its products by as much as an additional 25% in July in an effort to offset the continuing rise in the cost of energy and hydrocarbon feedstocks. The company also will implement a freight surcharge of $300 per shipment by truck and $600 per shipment by rail, effective August 1. The surcharge applies to North America customers buying chemicals, hydrocarbons and plastics where Dow absorbs the freight currently. Later this year a freight surcharge will be implemented in other geographic regions as appropriate. Furthermore, the company is moving ahead with plans to temporarily idle or reduce production at a number of manufacturing plants. In addition, Dow Building Solutions temporarily idled 20% of its European capacity for producing STYROFOAM insulation."