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. Additional information about the Company can be found at www.ferro.com.
CONTACT: Ferro Corporation
James M. Kolenc, 216-750-1445
Business Director, Engineered Polymer Products
Mary Abood, 216-875-6202
Director, Corporate Communications