Ferro to raise price on its Geode complex inorganic pigments line by 7%-10%, effective April 1, cites rising raw material, energy and transportation costs
April 4, 2011
– Ferro Corporation's (NYSE:FOE - News) Performance Pigments and Colors business has announced price increases for its Geode® product line. The increases, necessitated by rising raw material, energy and transportation costs, are between 7 and 10 percent and are in effect as of April 1, 2011.
"Despite our concerted efforts with product reformulations, raw material substitutions and supply chain management, we are unable to offset escalating raw material, transportation and energy costs enough to avoid implementing pigment price increases this year," said Sandy Frydryk, U.S. Commercial Director for Ferro’s Electronic, Color and Glass Materials Group. "We continue to work diligently to mitigate these cost increases to minimize the impact on our customers."
Geode® Complex Inorganic Pigments are heat stable, lightfast, and chemical and weather resistant pigments used in a variety of exterior building applications, such as PVC siding, PVC window profiles, PVC decking and fencing, coil coatings, metal roofs, and metal sidewalls. They are also highly recommended for use in engineering plastics, camouflage and a variety of other exterior coatings where high performance is required.
About Ferro Corporation
Ferro Corporation (www.ferro.com) is a leading global supplier of technology-based performance materials for manufacturers. Ferro materials enhance the performance of products in a variety of end markets, including electronics, solar energy, telecommunications, pharmaceuticals, building and renovation, appliances, automotive, household furnishings, and industrial products. Headquartered in Cleveland, Ohio, the Company has approximately 5,000 employees globally and reported 2010 sales of $2.1 billion.
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