HUNT VALLEY, MD and JEDDAH (July 16, 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 Japan by
JY30 per kg effective on September 1, 2007 or as contracts allow.
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.
Cristal is one of the largest producers of titanium dioxide and a leading producer of titanium chemicals. Cristal is the world’s leading supplier of ultrafine titanium dioxide products and titanium chemicals and is a fast-growing producer of mineral sands and titanium metal powder. Cristal operates eight manufacturing plants in seven countries on five continents and employs nearly
3,400 people worldwide.
Cristal is owned 79% by Tasnee, a listed Saudi joint stock company and 20% by Gulf Investment Corporation, a company equally owned by the six states of the Gulf Cooperation Council and headquartered in Kuwait.