Grace Announces 2019 Price Increase for Silica-Based and Molecular Sieve Products
Source: Nasdaq GlobeNewswire / 12 Nov 2018 16:30:13 America/New_York
COLUMBIA, Md., Nov. 12, 2018 (GLOBE NEWSWIRE) -- W. R. Grace & Co. (NYSE:GRA) will increase the price of silica-based and molecular sieve products sold through its Grace Materials Technologies business segment by 7 percent as contracts allow. This pricing action will enable Grace to sustain investment in best-in-class manufacturing capabilities and increase R&D on technologies to help customers produce differentiated products and meet more stringent regulatory requirements across a broad spectrum of industries. This increase will be effective Jan. 1, 2019.
Grace’s silica-based and molecular sieves technologies are used in manufacturing processes and as additives in customers’ end products over a wide range of applications from coatings and plastics to food and pharmaceuticals. Grace technologies deliver quality and performance attributes in products that touch our everyday lives, including advanced characteristics in paints and coatings, cleaner air from emission control technologies, enhanced bioavailability in pharmaceuticals, and better toothpaste whitening. Products of many of the world’s leading brands are produced or improved through Grace materials science.
Affected will be prices for silica gel, colloidal silica, precipitated silica, and adsorbent products, including the DARACLAR®, DAVISIL®, LUDOX®, PERKASIL®, PHONOSORB®, SHIELDEX®, SIDENT®, SYLOBEAD®, SYLOBLOC®, SYLODENT®, SYLOID®, SYLOJET®, SYLOSIV®, SYLOWHITE®, TRISYL®, and VYDAC® brands.
Built on talent, technology, and trust, Grace is a leading global supplier of catalysts and engineered materials. The company’s two industry-leading business segments—Catalysts Technologies and Materials Technologies—provide innovative products, technologies, and services that enhance the products and processes of our customers around the world. With approximately 3,900 employees, Grace operates and/or sells to customers in over 60 countries. More information about Grace is available at grace.com.
This announcement contains forward-looking statements, that is, information related to future, not past, events. Such statements generally include the words “believes,” “plans,” “intends,” “targets,” “will,” “expects,” “suggests,” “anticipates,” “outlook,” “continues,” or similar expressions. Forward-looking statements include, without limitation, expected financial positions; results of operations; cash flows; financing plans; business strategy; operating plans; capital and other expenditures; competitive positions; growth opportunities for existing products; benefits from new technology and cost reduction initiatives, plans and objectives; and markets for securities. For these statements, Grace claims the protections of the safe harbor for forward-looking statements contained in Section 27A of the Securities Act and Section 21E of the Exchange Act. 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 actual results to differ materially from those contained in the forward-looking statements include, without limitation: risks related to foreign operations, especially in emerging regions; the costs and availability of raw materials, energy and transportation; the effectiveness of its research and development and growth investments; acquisitions and divestitures of assets and businesses; developments affecting Grace’s outstanding indebtedness; developments affecting Grace's pension obligations; its legal and environmental proceedings; environmental compliance costs; the inability to establish or maintain certain business relationships; the inability to hire or retain key personnel; natural disasters such as storms and floods, and force majeure events; changes in tax laws and regulations; international trade disputes, tariffs and sanctions; the potential effects of cyberattacks; and those additional factors set forth in Grace's most recent Annual Report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K, which have been filed with the Securities and Exchange Commission and are readily available on the Internet at www.sec.gov. Reported results should not be considered as an indication of future performance. Readers are cautioned not to place undue reliance on Grace's projections and forward-looking statements, which speak only as of the dates those projections and statements are made. Grace undertakes no obligation to release publicly any revision to the projections and forward-looking statements contained in this announcement, or to update them to reflect events or circumstances occurring after the date of this announcement.
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