Harris Paints says despite rising costs of materials in the paint and adhesive industries on the world market, it has continued to shield consumers from rising prices while maintaining jobs and is celebrating its 40th anniversary this year.
In a press release, Senior Vice President-Sales and Marketing Luke Ticknor noted that the contributions made by local companies was particularly worthy of special mention, noting that every effort was being made to shield Guyanese consumers from rising prices while maintaining employment numbers.
Ticknor pointed out that the cost to manufacture products has been rising steadily and sharply over the last two years due to the escalating raw material prices, fuel and electricity costs. And, though the company has been forced to increase prices in order to maintain its high quality standards, these increases have helped it to offset only a fraction of its rising costs.
In a recent bulletin from Azko Nobel, the world largest paint and chemical company, it was noted that: “The paint, wood care, and adhesive industries, which were dramatically affected by inflation and supply constraints in 2011, have continued to see increasing raw material costs and short supply heading into 2012. Costs continue to rise in categories such as titanium dioxide, latex, solvents, resins, pigments, packaging and linseed oil. Titanium dioxide costs alone are expected to be over 35% higher in 2012 than in 2011.”
According to Harris Paints Technical Manager Charles Kirton while other companies have started to import ingredients like titanium dioxide and acrylic resins from countries like China, India and Russia, “we have never been tempted to substitute lower cost and lower performing raw materials into our paints.” Kirton said Harris Paints has tested some of the cheaper ingredients and formulations and they have proven to be grittier, less white and do not hide as well and therefore do not meet the company’s high standards so it has decided not to use them.
The company also noted that it does not benefit from financial support from international conglomerates and despite its origins as a small Barbadian manufacturer; it has been able to grow dramatically over its 40 years, primarily due to regional consumer acceptance of its Best by Test Quality products.
