CHARLOTTE, N.C., Jan. 6, 2022 /PRNewswire/ -- Albemarle
Corporation (NYSE: ALB), a leader in the global specialty chemicals
industry, today announced a price increase for Catalysts global
business unit customers. These price increases are effective
immediately, or as contracts allow.
Albemarle and its suppliers are
continuing to see unprecedented increases worldwide in energy costs
(gas and electricity) and for key raw materials that are critical
to manufacturing our performance products.
Several factors are impacting an increase in the cost of energy
and key raw materials, some of which may be temporary. Examples
include the increased energy costs in Europe due to a winter shortage, the up-to-40%
increase in the costs of industrial metals, and the acute tightness
in chlor alkali markets. Albemarle
continues to monitor the energy and commodities markets
accordingly.
"Albemarle remains committed to
delivering value to our customers with no interruptions to supply,"
said Raphael Crawford, President,
Catalysts global business unit. "Our intent is to cover the
increased costs we are experiencing through productivity gains and
price adjustments for our products and services, and to flex with
the market over the coming months."
About Albemarle
Albemarle Corporation (NYSE:
ALB) is a global specialty chemicals company who thinks beyond
business as usual to power the potential of companies in many of
the world's largest and most critical industries, such as energy,
electronics, and transportation. We actively pursue a sustainable
approach to managing our diverse global footprint of world-class
resources. In conjunction with our highly experienced and talented
global teams, our deep-seated values, and our collaborative
customer relationships, we create value-added and performance-based
solutions that enable a safer and more sustainable future.
We regularly post information to www.albemarle.com, including
notification of events, news, financial performance, investor
presentations and webcasts, non-GAAP reconciliations, SEC filings
and other information regarding our company, its businesses, and
the markets it serves.
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SOURCE Albemarle Corporation