FMC Corporation Increases Prices for Hydrogen Peroxide
PHILADELPHIA, July 28, 2010 – FMC Corporation (NYSE:FMC) announced today that effective August 1, 2010, or as contracts permit, it will increase prices in the NAFTA region for all grades of hydrogen peroxide with the exception of high-purity electronics grades. The amount of the increase will be $0.045/lb. (100 percent basis) in the United States and Mexico and C$100/MT in Canada.
“Production and transportation costs continue to increase and strong demand in all terminal markets has led to high levels of asset utilization,” said Tom Ball, FMC Peroxygens sales and marketing director. “Therefore this increase is required to allow reinvestment in infrastructure, such as the recently announced realignment of our Bayport peroxide operations, to increase manufacturing flexibility and continue to ensure the safe and reliable supply of hydrogen peroxide to our customers across all markets.”
FMC’s hydrogen peroxide energy and transportation fuel surcharges as posted on its web page will remain in effect. The energy surcharge is adjusted quarterly and is tied to the price of natural gas, a key raw material used in the production of hydrogen gas, a building block of hydrogen peroxide. The transportation fuel surcharge is adjusted monthly and is tied to the cost of diesel fuel and crude oil.
FMC Corporation is a diversified chemical company serving agricultural, industrial and consumer markets globally for more than a century with innovative solutions, applications and quality products. The company employs approximately 4,800 people throughout the world. The company operates its businesses in three segments: Agricultural Products, Specialty Chemicals and Industrial Chemicals.
Safe Harbor Statement under the Private Securities Act of 1995: Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning specific factors described in FMC Corporation's 2009 Form 10-K and other SEC filings. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. FMC Corporation does not intend to update this information and disclaims any legal obligation to the contrary. Historical information is not necessarily indicative of future performance.
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