W. R. Grace & Co. stated last week 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, stated the company.