Jeddah, Saudi Arabia and Hunt Valley, MD USA (Monday, June 2, 2008) – Cristal Global (Cristal) announced today that it will implement a surcharge and raise titanium dioxide (TiO2) product prices, beginning July 1, to offset "dramatic" raw material, energy and feedstock cost escalation.
Due to unprecedented raw material and freight cost increases, including sulfur, natural gas, and energy, combined with the strength of the Real, Cristal Global will apply a $200 per ton raw material surcharge on all TionaÒ sulfate products produced at its plant in Bahia, Brazil. Separately, a price increase of $150 per ton will be applied on all Tiona chloride products imported into the region, also effective on July 1, 2008.
John Hall, Vice President of Sales & Marketing, said, "The spot price of sulfur has increased by approximately 1000% over the last twelve months and we are unable to absorb such a dramatic increase any longer.” Cristal Global will monitor the situation every quarter and determine if any further actions, in either direction, are needed.
This surcharge and new price increase are in addition to previously announced price increases.
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Cristal Global is the world’s second-largest producer of titanium dioxide and a leading producer of titanium chemicals. Cristal Global operates eight manufacturing plants in six countries on five continents and employs more than 3,500 people worldwide.
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