ART Adjusts Pricing to Reflect Higher Input Costs
Advanced Refining Technologies LLC (ART), the joint venture of U.S.
specialty chemicals and materials company W. R. Grace & Co. and
U.S.-based energy company Chevron (NYSE:CVX), today announced
global price increases for its hydroprocessing catalysts amid
rapidly rising raw materials and energy costs. Prices will increase
up to 15% based on product type and specific customer commitments.
"The demand for high-quality hydroprocessing catalyst technology
remains extremely high as demand and margins for refined products
continue to strengthen through the end of 2022 and into 2023," said
Nathan Ergonul, ART Managing Director. "The pricing actions we are
taking today are necessary to offset record inflationary pressure
while continuing our commitment to offering industry-leading
catalyst performance and expert-level technical service. These
actions are essential to continue creating significant incremental
profit for our customers."
For hydroprocessing catalysts, the industry is experiencing
unprecedented cost increases for raw materials such as alumina,
caustic soda and acids. Freight and logistics costs are also
higher, affecting the cost of delivering finished premium
catalysts. Due partly to the ongoing conflict in Ukraine, energy
prices today are at or near historic highs, significantly affecting
manufacturing hydroprocessing catalyst costs.
ART continues its efforts to reduce costs, increase
productivity, reinvest in manufacturing reliability and capacity
and drive operational efficiencies.
About ART Hydroprocessing
ART, a joint venture between W. R. Grace and Chevron, is a
leading supplier of hydroprocessing catalysts that produce cleaner
fuels. ART Hydroprocessing™ technology represents a complete
portfolio of resid hydrotreating, hydrocracking, and lubes
hydroprocessing, and distillate hydrotreating catalyst technologies
through a global manufacturing network. ART Hydroprocessing™
technology combines Chevron's extensive expertise in refining
operations, catalyst technology and development, process design
leadership, and licensing with Grace's materials science, specialty
chemical manufacturing, and global sales and technical service
strengths, to improve refiners' profitability through catalytic
solutions that improve the quality and yields of fuels refined from
a wide variety of feedstocks. The ART team works seamlessly with
CLG, itself a joint venture between Chevron U.S.A. Inc. and Lummus
Technology, which is a leading process technology licensor for
refining hydroprocessing technologies and alternative source fuels.
More information is available at ARTHydroprocessing.com.
Built on talent, technology, and trust, Grace, a Standard
Industries company, 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.
About Chevron Products CompanyChevron Products
Company is a wholly owned subsidiary of Chevron Corporation engaged
in the refining, marketing and transportation of petroleum products
in the United States. Chevron is one of the world's leading
integrated energy companies, with subsidiaries that conduct
business worldwide. The company's success is driven by the
ingenuity and commitment of its employees. Chevron is involved in
virtually every facet of the energy industry. The company explores
for, produces and transports crude oil and natural gas; refines,
markets and distributes transportation fuels and lubricants;
manufactures and sells petrochemical products; generates power and
produces geothermal energy; provides energy efficiency solutions;
and develops the energy resources of the future, including
biofuels. More information is available at www.chevron.com.
ART Media ContactChris HukMarketing and
Communications Manager+1 firstname.lastname@example.org
Gráfica de Acción Histórica
De Dic 2022 a Ene 2023
Gráfica de Acción Histórica
De Ene 2022 a Ene 2023