Aug 31, 2023
Ingevity
announces price increase for lignin and tall oil products
PRESS RELEASE
NORTH CHARLESTON, S.C.
,
Aug. 31, 2023
-
Ingevity Corporation
has announced a 10% price increase to all lignin products across its dispersants business and to all tall oil fatty acid (TOFA), distilled tall oil (DTO) and TOFA derivative products associated with its Industrial Specialties portfolio. Lignin products increases are due to ongoing elevated operational costs associated with the recently announced closure of the host paper mill in
North Charleston, South Carolina
. TOFA and DTO products increases are due to the continued supply and demand imbalance for tall oil based fatty acids. The increases will be consistent across markets and regions.
New prices will be effective
October 1, 2023
, or as contracts allow.
Ingevity
: Purify, Protect and Enhance
Ingevity
provides products and technologies that purify, protect and enhance the world around us. Through a team of talented and experienced people, we develop, manufacture and bring to market solutions that help customers solve complex problems and make the world more sustainable. We operate in three reporting segments: Performance Chemicals, which includes specialty chemicals and pavement technologies; Advanced Polymer Technologies, which includes biodegradable plastics and polyurethane materials; and Performance Materials, which includes activated
carbon
. Our products are used in in a variety of demanding applications, including adhesives, agrochemicals, asphalt paving, bioplastics, coatings, elastomers, lubricants, pavement markings, publication inks, oil exploration and production and automotive components. Headquartered in
North Charleston, South Carolina
,
Ingevity
operates from 31 countries around the world and employs approximately 2,050 people. The company's common stock is traded on the
New York Stock Exchange
(NYSE:NGVT). For more information visit www.ingevity.com. Follow
Ingevity
on LinkedIn.
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Disclaimer
Ingevity Corporation
published this content on
31 August 2023
and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on
31 August 2023
13:06:14 UTC
.
