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|Grace Announces Rare Earth Surcharge for FCC Catalysts and Additives|
COLUMBIA, Md., Aug 25, 2010 (BUSINESS WIRE) -- Grace Davison, an operating segment of W. R. Grace & Co. (NYSE:GRA), today announced the implementation of a rare earth surcharge for its fluid catalytic cracking (FCC) catalysts and additives for the petroleum refining industry. Effective October 1, 2010, Grace will implement a global rare earth surcharge due to rapidly escalating prices as a result of recently imposed export tariffs and quota restrictions by major producers in the rare earth market.
In addition, Grace will increase FCC catalyst prices by 5% to 7%, effective January 1, 2011, or as contracts allow, as a result of inflation in other key raw materials and to support ongoing research and technical service efforts. Grace is providing price guidance in advance to support customer budget preparations for 2011.
About Grace Davison
Grace Davison is the global leader for FCC catalysts and additives, offering solutions-oriented approaches backed by a broad, highly differentiated portfolio and industry-leading technical service. Grace Davison's research leadership and flexible manufacturing system support value-added technology tailored to meet customers' current and future needs.
Grace is a leading global supplier of catalysts and other products to petroleum refiners; catalysts for the manufacture of plastics; silica-based engineered and specialty materials for a wide range of industrial applications; sealants and coatings for food and beverage packaging, and specialty chemicals, additives and building materials for commercial and residential construction. Founded in 1854, Grace has operations in over 40 countries. For more information, visit Grace's web site at http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.grace.com&esheet=6407342&lan=en-US&anchor=www.grace.com&index=1&md5=aefd2c52e142858a926fae21de2d9c4e.
SOURCE: W. R. Grace & Co.
W. R. Grace & Co.