MIDLAND, Mich. (AP) -- Dow Chemical Co. plans to raise the price of its products for the second time in a month to deal with what it calls the relentless rise in costs of energy and related raw materials.
The Midland-based chemical company said Tuesday it will raise prices by as much as 25 percent next month. That follows prices increases of up to 20 percent that took effect last month. It also plans a freight surcharge in North America.
The company also plans to temporarily idle or cut production at a number of manufacturing plants. Dow's automotive unit is cutting costs that include workers and plants in light of a North American sales decline.
Chairman and CEO Andrew Liveris says the steps are "extremely unwelcome but entirely unavoidable."
