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Borax Announces Price Increase
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Rio Tinto Borax, acknowledged world leader in borate supply and science, today announced a significant price increase across all product lines to help offset the effect of far greater increases in energy, raw material and transportation costs. Percentage price increases will rise by double digits, vary by product line and take effect immediately.
Prices over the last several years have not kept pace with the effects of inflation, driven primarily by increases for energy, freight and other input prices hitting record highs, said Bob Graham, Boraxs chief commercial officer. I credit the tremendous spirit of innovation that pervades Borax for absorbing most of these unprecedented increases, but we cannot continue to shoulder that burden alone while continuing to invest in the new capacity, technical support and service level that set us apart from our competitors.
Borax supplies nearly half the worlds demand for refined borates and serves customers in nearly 100 countries. Borates are used in a wide variety of products including fiberglass, glass, ceramics and wood preservatives where they lower energy requirements and environmental emissions in their production and use.
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November 16th, 2005
Source: Borax |
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