COLUMBIA, Md., March 17, 2022 (GLOBE NEWSWIRE) -- W. R. Grace & Co. stated today that it will increase prices for its Fluid Catalytic Cracking (FCC) catalysts and additives this year as contracts allow.
As Grace offers products and services that continue to deliver increasing value, it faces rapidly escalating costs for key raw materials and energy, including aluminum-derived chemicals and natural gas. In addition, freight and logistics costs continue to rise at an extraordinary rate.
Grace remains focused on reducing operational expenses through increased efficiencies; however, those efforts cannot completely offset unprecedented inflationary trends.
We will initiate pricing actions necessary to sustain our on-going investment in new technology, enhanced technical services, and leading manufacturing capabilities to serve our global customers.
About Grace
Built on talent, technology, and trust, Grace, a Standard Industries company, 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 4,300 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,” “will,” “expects,” “outlook,” 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; benefits from new technology and cost reduction initiatives; and markets for securities. 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 such differences include, without limitation: risks related to foreign operations, especially in emerging regions; currency exchange rate changes; public health and safety concerns, including pandemics and quarantines; natural disasters and force majeure events; changes in laws and regulations; raw materials, energy, and logistics cost inflation and availability; the effectiveness of its research and development and growth investments; acquisitions and divestitures of assets and businesses; developments affecting its pension obligations; legacy matters (including product, environmental, and other legacy liabilities) relating to past activities of Grace; its legal and environmental proceedings; costs of compliance with environmental laws and regulations (including those pertaining to climate change); cyberattacks; the economics of its customers’ industries; and shifting consumer preferences. Past 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 the date thereof. Grace undertakes no obligation to publicly release any revision to the projections and forward-looking statements contained in this announcement this website or to update them to reflect events or circumstances occurring after the date of their publication herein.
Media Relations
Caitlin Leopold
T +1 410.531.8870
caitlin.leopold@grace.com
