COLUMBIA, Md., March 17, 2022 (GLOBE NEWSWIRE) -- W. R. Grace & Co. stated today that it will increase prices for its Fluid Catalytic Cracking (FCC) catalysts and additives this year as contracts allow.
As Grace offers products and services that continue to deliver increasing value, it faces rapidly escalating costs for key raw materials and energy, including aluminum-derived chemicals and natural gas. In addition, freight and logistics costs continue to rise at an extraordinary rate.
Grace remains focused on reducing operational expenses through increased efficiencies; however, those efforts cannot completely offset unprecedented inflationary trends.
We will initiate pricing actions necessary to sustain our on-going investment in new technology, enhanced technical services, and leading manufacturing capabilities to serve our global customers.
Built on talent, technology, and trust, Grace, a Standard Industries company, is a global leader in specialty chemicals. The company’s two industry-leading business segments—Catalyst Technologies and Materials Technologies—provide innovative products, technologies, and services that enhance the products and processes of our customers around the world. With approximately 4,600 employees, Grace operates and/or sells to customers in over 60 countries. More information about Grace is available at grace.com.
This press release contains forward-looking statements, that is, information related to future, not past, events. Such statements generally include the words “expects,” “outlook,” “believes,” “plans,” “will,” or similar expressions. Forward-looking statements include, without limitation: expected financial positions; results of operations; cash flows; competitive positions; and markets for securities. Like other businesses, Grace is subject to risks and uncertainties that could cause its actual results to differ materially from its projections or that could cause other forward-looking statements to prove incorrect. Factors that could cause such differences include, without limitation: risks related to foreign operations, currency exchange rate changes; public health and safety concerns; natural disasters and force majeure events; changes in laws and regulations; the cost and availability of raw materials and energy; Grace’s legal and environmental proceedings; costs of compliance with environmental laws and regulations (including those pertaining to climate change); cyberattacks; the economics of its customers’ industries; and shifting consumer preferences. Past results should not be considered as an indication of future performance. Readers are cautioned not to place undue reliance on Grace’s forward-looking statements, which speak only as the dates originally made. Grace undertakes no obligation to publicly release any revision to the forward-looking statements contained in this press release or to update them to reflect events or circumstances occurring after the date of their publication herein.