Industry News

Ferro Increases Prices for Polymer Specialty Materials Products

Published on 2008-06-27. Author : SpecialChem

CLEVELAND -- Ferro Corporation has announced price increases of up to 20 percent for products manufactured by the Company's three Polymer Specialty Materials businesses. Pricing changes will be effective June 30 or July 15, 2008, depending on the product line.

Previous price increases this year and our ongoing, significant internal cost-reduction initiatives have not been adequate to offset the recent dramatic rise in costs of raw materials such as petrochemical-based products, natural fats and oils, and metals, said Peter Thomas, vice president of Ferro's Organic Specialties Group. This pricing move is necessary to ensure that Ferro remains a dependable, viable, quality provider to our valued customers in what we recognize is a very challenging environment.

Flexible Polymer Applications will increase prices by $0.05 to $0.45 per pound on benzyl phthalates, epoxidized soybean oil, mixed metal stabilizers, and phosphate esters, effective July 1.

Rigid Polymer Applications will raise prices for metallic stearates by $0.08 per pound as of June 30, and for gel coats by $0.10 per pound as of July 15. Price increases ranging from $0.08 to $0.30 per pound were recently implemented for liquid colorants and dispersions.

Engineered Polymer Products will increase prices effective July 15 or as contract terms permit. Filled and reinforced compound pricing will increase $0.11 per pound; and plastic colorant price increases will range from $0.06 to $0.17 per pound depending on polymer type and whether the product is a white or specialty colorant.

Ferro's Polymer Specialty Materials business manufactures engineered plastics composites; polymer additives; plastic color concentrates and liquid color dispersions; gel coats; and advanced polymer alloys; and offers manufacturing of custom alloys. Its products are available globally from manufacturing facilities in the U.S. and Europe.

About Ferro Corporation:

Ferro Corporation is a leading global supplier of technology-based performance materials for manufacturers. Ferro materials enhance the performance of products in a variety of industries, including electronics, solar energy, telecommunications, pharmaceuticals, building and renovation, appliances, automotive, household furnishings, and industrial products. Headquartered in Cleveland, Ohio, the Company has approximately 6,300 employees globally and reported sales of $2.2 billion in 2007.

Cautionary Note on Forward-Looking Statements

Certain statements in this Ferro press release may constitute forward-looking statements within the meaning of Federal securities laws. These statements are subject to a variety of uncertainties, unknown risks and other factors concerning the Company's operations and business environment, which are difficult to predict and often beyond the control of the Company. Important factors that could cause actual results to differ materially from those suggested by these forward-looking statements, and that could adversely affect the Company's future financial performance.

Source: Ferro Corporation

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