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25 May 2005 - ABB is to increase the price of its transformers by up to ten per cent following what the company called 'a sharp increase' in raw material prices since the start of 2005. The price increases became effective immediately.

The latest price rise follows several in 2004 that were also introduced to offset higher material prices. A statement from ABB detailed that the price increase for raw materials had accelerated in the first quarter of 2005.

Peter Smits, head of ABB Power Technologies division, said: "These additional and unprecedented commodity cost increases are of such magnitude that we have no choice but to pass them on to our end users again."

The Swiss based company said it had experienced cost increases of between 30 and 100 per cent for raw materials such as steel, copper and oil, compared to the usual price fluctuations of below ten per cent.

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