Grace Announces 2021 FCC Catalysts Pricing Actions
21 Junio 2021 - 8:00AM
W. R. Grace & Co. (NYSE: GRA) stated that it will increase
prices for its Fluid Catalytic Cracking (FCC) catalysts by 3 to 9
percent in 2021 based on product type and specific customer
commitments. This increase will be effective July 1, 2021 or as
contracts allow.
As the global refining industry recovers from the pandemic and
margins for refined products have strengthened, Grace is seeing
significant interest from refiners to rapidly return to using
premium catalyst technologies to increase FCC unit profitability.
Premium catalysts help relieve operating constraints, facilitate
increased operating rates, and maximize product yields, thereby
increasing profitability for refineries.
“Our FCC technologies, coupled with industry-leading technical
support, have consistently outperformed alternatives, often
returning value of more than a dollar per barrel to the refiner,”
said Tom Petti, Grace’s President, Refining Technologies. “Time and
again, we have demonstrated our ability to provide custom product
solutions and expert-level technical service to create significant
incremental profit for our refining customers.”
As Grace continues to deliver increasing value to its customers
with premium technology, it also faces rising costs for certain key
raw materials and energy, including aluminum-derived chemicals and
natural gas, as well as freight and logistics cost increases. Grace
remains focused on driving productivity through increased
efficiencies; however, these efforts cannot completely offset
current inflationary trends. The increase in catalyst prices will
partially offset this inflationary trend while sustaining on-going
investment in new technology, enhanced technical services, and
leading manufacturing capabilities.
About Grace
Built on talent, technology, and trust, Grace is a leading
global supplier of catalysts and engineered materials. The
company’s two industry-leading business segments—Catalysts
Technologies and Materials Technologies—provide innovative
products, technologies, and services that enhance the products and
processes of our customers around the world. With approximately
4,300 employees, Grace operates and/or sells to customers in over
60 countries. More information about Grace is available at
grace.com.
Forward-Looking Statements
This announcement contains forward-looking statements, that is,
information related to future, not past, events. Such statements
generally include the words “believes,” “plans,” “intends,”
“targets,” “will,” “expects,” “suggests,” “anticipates,” “outlook,”
“continues,” or similar expressions. Forward-looking statements
include, without limitation, statements regarding: financial
positions; results of operations; cash flows; financing plans;
business strategy; operating plans; capital and other expenditures;
impact of the COVID-19 pandemic on our business; competitive
positions; growth opportunities for existing products; benefits
from new technology; benefits from cost reduction initiatives;
succession planning; markets for securities; the anticipated timing
of closing of the proposed transaction between Grace and affiliates
of Standard Industries Holdings Inc. and the potential benefits of
the proposed transaction. For these statements, Grace claims the
protections of the safe harbor for forward-looking statements
contained in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Grace is subject to risks and uncertainties that could cause actual
results or events to differ materially from its projections or that
could cause other forward-looking statements to prove incorrect.
Factors that could cause actual results or events to differ
materially from those contained in the forward-looking statements
include, without limitation: risks related to foreign operations,
especially in areas of active conflicts and in emerging regions;
the costs and availability of raw materials, energy, and
transportation; the effectiveness of Grace’s research and
development and growth investments; acquisitions and divestitures
of assets and businesses; developments affecting Grace’s
outstanding indebtedness; developments affecting Grace’s pension
obligations; legacy matters (including product, environmental, and
other legacy liabilities) relating to past activities of Grace; its
legal and environmental proceedings; environmental compliance costs
(including existing and potential laws and regulations pertaining
to climate change); the inability to establish or maintain certain
business relationships; the inability to hire or retain key
personnel; natural disasters such as storms and floods; fires and
force majeure events; the economics of its customers’ industries,
including the petroleum refining, petrochemicals, and plastics
industries, and shifting consumer preferences; public health and
safety concerns, including pandemics and quarantines; changes in
tax laws and regulations; international trade disputes, tariffs,
and sanctions; the potential effects of cyberattacks; the
occurrence of any event, change or other circumstance that could
give rise to the termination of the merger agreement between Grace
and Standard Industries Holdings Inc.’s affiliates; the failure to
obtain Grace shareholder approval of the transaction or the failure
to satisfy any of the other conditions to the completion of the
transaction; risks relating to the financing required to complete
the transaction; the effect of the announcement of the transaction
on the ability of Grace to retain and hire key personnel and
maintain relationships with its customers, vendors and others with
whom it does business, or on its operating results and businesses
generally; risks associated with the disruption of management’s
attention from ongoing business operations due to the transaction;
the ability to meet expectations regarding the timing and
completion of the transaction; significant transaction costs, fees,
expenses and charges; the risk of litigation and/or regulatory
actions related to the transaction; other business effects,
including the effects of industry, market, economic, political,
regulatory or world health conditions (including new or ongoing
effects of the COVID-19 pandemic), and other factors detailed in
Grace’s Annual Report on Form 10-K filed with the SEC for the
fiscal year ended December 31, 2020, as amended, and Grace’s other
filings with the SEC, which are available at http://www.sec.gov and
on Grace’s website at www.grace.com. Grace’s reported results
should not be considered as an indication of its future
performance. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. Grace undertakes no obligation to release publicly any
revisions to its forward-looking statements, or to update them to
reflect events or circumstances occurring after the dates those
statements are made.
Media
RelationsCaitlin LeopoldT +1
410.531.8870caitlin.leopold@grace.com |
Investor RelationsJason
HershiserT +1
410.531.8234Jason.hershiser@grace.com |
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