Press Release |
| For Immediate Release |
| Date: |
December 24, 2007 |
| Contact Name: |
Amy Drusano
Manager – Communications |
| Contact Number: |
+1-410-229-8062
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Cristal Announces TiO 2 Price Increases |
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HUNT VALLEY, MD and JEDDAH, SAUDI ARABIA (Monday, December 24, 2007) – Cristal Global (Cristal) announced today a price increase of $150 USD per tonne on all Tiona ® and Cristal titanium dioxide (TiO2) products sold in the Asia Pacific region effective January 15th 2008.
This price increase is in addition to previously announced price increases. It is necessary to compensate for increases in costs and to allow improvement in operating margins, which have been compressed to unsustainable levels.
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National Titanium Dioxide Company Ltd. ("Cristal") and Millennium Inorganic Chemicals (MIC) combine to form the world’s second-largest producer of titanium dioxide and a leading producer of titanium chemicals. Cristal and MIC operate nine manufacturing plants in six countries and employ more than 3,700 people worldwide.
Millennium Inorganic Chemicals (“MIC”) (www.millenniumchem.com) is a wholly-owned subsidiary of Cristal. "TASNEE," a Saudi major diversified company with chemicals and petrochemicals operations, owns 66 percent of Cristal, while 33 percent of Cristal is owned by Gulf Investment Corporation ("GIC"), an investment house established in Kuwait by the GCC countries. |
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