WILMINGTON, DE, June 2, 2008 (Press Release) - DuPont today announced that prices for its Ti-Pure(r) titanium dioxide (TiO2) products will increase by July 1 due to rapid and substantial increases in the costs of energy, raw materials and transportation. While specifics will vary by region, customers can expect the rapid implementation of previously announced price increases, additional increases and, in some geographies, energy-related surcharges.
"The need for immediate structural improvement in prices is unprecedented," said Richard C. Olson, vice president and general manager -- DuPont Titanium Technologies. "We expect to increase our global pricing structure by as much as 8 percent in coming weeks."
"Price increases announced during the first half of 2008 were intended to compensate for expected increases in energy, raw materials and transportation costs," said Olson, "but the magnitude of recent increases in these costs forced DuPont to take these actions."
"It is imperative that we pass along some of these unanticipated costs if we are to continue investing in our TiO2 business to sustain ongoing operations," Olson said. "Of course, we plan aggressive cost, productivity and energy improvements; but realistically, these initiatives simply cannot overcome the negative effects of these external forces on our production of TiO2.
DuPont Titanium Technologies will make regional announcements to inform customers about specific pricing actions in their areas.
DuPont Titanium Technologies is the world's largest manufacturer of titanium dioxide, serving customers globally in the coatings, paper and plastics industries. The company operates plants at DeLisle, Miss.; New Johnsonville, Tenn.; Edge Moor, Del.; Altamira, Mexico; and Kuan Yin, Taiwan; all of which use the chloride manufacturing process. The company also operates a plant in Uberaba, Brazil, for finishing titanium dioxide and a mine in Starke, Fla. Technical service centers are located in Uberaba, Brazil; Mexico City, Mexico; Mechelen, Belgium; Moscow, Russia; Kuan Yin, Taiwan; Ulsan, Korea; Wilmington, Del.; and Shanghai, China, to serve the European, Middle Eastern, United States, Asian and Latin America markets.
DuPont is a science company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture, nutrition, electronics, communications, safety and protection, home and construction, transportation and apparel.
