DuPont Titanium Technologies raises titanium dioxide prices due to rising cost increases
Wilmington, Del. (ANTARA News/PRNewswire-AsiaNet) - DuPont Titanium Technologies today announced its second global price increase for titanium dioxide in two weeks in an attempt to keep pace with rapidly rising costs of energy and raw materials.
Increases announced today become effective on July 15. These increases, of approximately $150 (USD) per ton, are in addition to those announced two weeks ago. Those increases take effect on July 1.
"We believed the increases announced earlier in June would be adequate to offset rising costs, but with oil now approaching $140 (USD) per barrel, there is simply no alternative to this action," said Richard C. Olson, vice president and general manager -- DuPont Titanium Technologies.
"We don't take these unprecedented steps lightly because we know they will travel eventually down the entire value chain." Olson said the cumulative effect of increases announced since the beginning of 2008 would result in third quarter DuPont titanium dioxide prices that are approximately 15 percent higher in U.S. dollars compared to the beginning of this year. He said specifics of the latest increases will be announced shortly in the various regions.
DuPont Titanium Technologies is the world's largest manufacturer of titanium dioxide, serving customers globally in the coatings, paper and plastics industries. The company operates plants at DeLisle, Miss.; New Johnsonville, Tenn.; Edge Moor, Del.; Altamira, Mexico; and Kuan Yin, Taiwan; all of which use the chloride manufacturing process. The company also operates a plant in Uberaba, Brazil, for finishing titanium dioxide and a mine in Starke, Fla. Technical service centersare located in Uberaba, Brazil; Mexico City, Mexico; Mechelen, Belgium; Kuan Yin, Taiwan; Ulsan, Korea; Shanghai, China; and Wilmington, Del., to serve the Latin American, European, Middle Eastern, Asian and North American markets.
DuPont (NYSE: DD) is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
6/19/08
Contact: Kimberlie A. Lantz
302-999-2361
kimberlie.a.lantz@usa.dupont.com
SOURCE: DuPont Titanium Technologies
CONTACT: Kimberlie A. Lantz of DuPont Titanium
Technologies,
+1-302-999-2361,
kimberlie.a.lantz@usa.dupont.com
Web site: http://www.titanium.dupont.com
Wilmington, Del. (ANTARA News/PRNewswire-AsiaNet) - DuPont Titanium Technologies today announced its second global price increase for titanium dioxide in two weeks in an attempt to keep pace with rapidly rising costs of energy and raw materials.
Increases announced today become effective on July 15. These increases, of approximately $150 (USD) per ton, are in addition to those announced two weeks ago. Those increases take effect on July 1.
"We believed the increases announced earlier in June would be adequate to offset rising costs, but with oil now approaching $140 (USD) per barrel, there is simply no alternative to this action," said Richard C. Olson, vice president and general manager -- DuPont Titanium Technologies.
"We don't take these unprecedented steps lightly because we know they will travel eventually down the entire value chain." Olson said the cumulative effect of increases announced since the beginning of 2008 would result in third quarter DuPont titanium dioxide prices that are approximately 15 percent higher in U.S. dollars compared to the beginning of this year. He said specifics of the latest increases will be announced shortly in the various regions.
DuPont Titanium Technologies is the world's largest manufacturer of titanium dioxide, serving customers globally in the coatings, paper and plastics industries. The company operates plants at DeLisle, Miss.; New Johnsonville, Tenn.; Edge Moor, Del.; Altamira, Mexico; and Kuan Yin, Taiwan; all of which use the chloride manufacturing process. The company also operates a plant in Uberaba, Brazil, for finishing titanium dioxide and a mine in Starke, Fla. Technical service centersare located in Uberaba, Brazil; Mexico City, Mexico; Mechelen, Belgium; Kuan Yin, Taiwan; Ulsan, Korea; Shanghai, China; and Wilmington, Del., to serve the Latin American, European, Middle Eastern, Asian and North American markets.
DuPont (NYSE: DD) is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation.
6/19/08
Contact: Kimberlie A. Lantz
302-999-2361
kimberlie.a.lantz@usa.dupont.com
SOURCE: DuPont Titanium Technologies
CONTACT: Kimberlie A. Lantz of DuPont Titanium
Technologies,
+1-302-999-2361,
kimberlie.a.lantz@usa.dupont.com
Web site: http://www.titanium.dupont.com
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