COLUMBIA, Md., Oct. 25, 2017 (GLOBE NEWSWIRE) -- W. R. Grace & Co. (NYSE:GRA) will increase the price of its Fluid Catalytic Cracking (FCC) catalysts by 3 to 9 percent, depending on product type and specific customer contract terms and commitments. This increase will be effective January 1, 2018, as contracts allow.
Grace is experiencing increased demand for its premium FCC catalysts including its MIDAS®, ACHIEVE®, and propylene maximization technologies, which are helping refiners increase FCC unit profitability, maximize petrochemical and alkylate feedstocks, and process more challenging crudes.
“Our custom product technologies and technical support have improved many refineries’ financial results by more than a dollar per barrel versus the alternative,” said Tom Petti, Grace’s President, Refining Technologies. “We remain focused on continued improvements in product performance and providing high levels of technical service that, together, improve our customers’ financial results.”
As Grace continues to increase the value of its products and services, it faces rising costs for key raw materials and energy including aluminum-derived chemicals, rare earths, caustic soda, and natural gas. While operational productivity initiatives partially mitigate cost inflation, this pricing action is necessary to support Grace’s continued investment in next-generation products, enhanced technical services, and increased manufacturing capabilities to serve our global customers.
About Grace
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 3,700 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. Such statements generally include the words “will,” “plans,” “intends,” “targets,” “expects,” “outlook,” or similar expressions. Forward-looking statements include, without limitation, expected financial positions and results of operations. 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. Grace is subject to risks and uncertainties that could cause its actual results to differ materially from its projections or forward-looking statements. Factors that could cause actual results to materially differ from those contained in the forward-looking statements include, without limitation: risks related to foreign operations, raw material and energy costs; research and development effectiveness; acquisition success; developments affecting indebtedness; pension obligations; Grace’s legal and environmental proceedings; environmental regulatory compliance costs; customer and supplier relationships; inability to retain key personnel; and those additional factors set forth in Grace's most recent Forms 10-K, 10-Q and 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 date thereof. Grace undertakes no obligation to publicly release any revision to the projections and forward-looking statements.
Media Relations
Rich Badmington
T +1 410.531.4370
rich.badmington@grace.com
Investor Relations
Tania Almond
T +1 410.531.4590
tania.almond@grace.com