Escalating Energy and Raw Materials Costs Cited as Rationale
October 25, 2004 Lehigh Valley, Pa.
Air Products (NYSE:APD) today announced that, effective November 15, 2004, it will implement a global price increase on all Dabco® polyurethane surfactants and amine catalysts, and Polycat® polyurethane amine catalysts, by 6% and metal-based catalysts by 10%, or as contracts allow, as it is no longer possible to absorb rising costs without increasing prices.
This increase is necessary to offset rapidly escalating energy and raw material costs associated with the production of these products despite the company's best efforts to offset these increases with ongoing productivity improvements.
Air Products remains committed to investing in its polyurethane additives business, and offering the products and technologies that enable its customers to maintain and grow their businesses profitably.
***NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.