HUNT VALLEY, MD and JEDDAH ( June 8, 2007) – Cristal Global (Cristal) announced today price increases on the sale of all rutile and anatase Tiona® and Cristal titanium dioxide (TiO2) products sold to all end use markets world wide effective on July 1, 2007 or as contracts allow.
In the U.S. and Canada, prices will increase by US $0.05 per pound.
In Europe, prices will increase by € 80 per metric ton.
In the Middle East and Africa, prices will increase by US $120 per metric ton.
In Central and South America, prices will increase by US $100 per metric ton.
In the Asia Pacific region, prices will increase by US $100 per metric ton.
These price increases are necessary to improve margins, which must increase in order to justify future investments in additional capacity and to offset continued increases in costs.
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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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