Cristal Global Announces Raw Material Surcharge and Price Increases in Latin America
Jeddah, Saudi Arabia and Hunt Valley, USA (Monday August 4, 2008) -
Cristal Global (Cristal) announced today that it will raise titanium
dioxide (TiO2) product prices, beginning September 1st, to offset
"dramatic" raw material, energy and feedstock cost escalation.
Prior announcements have described the need for price advances due to
unprecedented cost increases of raw materials, freight, sulfur, natural
gas, and energy, combined with the strength of the Real. As a
consequence, Cristal Global will increase the prices of all Tiona
pigments sold in Latin America by $250 per ton effective September 1,
This new price increase is in addition to previously announced price increases and product surcharges.
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.