FMC Corporation Increases Price of Hydrogen Peroxide
PHILADELPHIA, June 19, 2008 – FMC Corporation (NYSE:FMC) announced today that effective July 1, 2008, or as contract terms permit, it will increase off-list hydrogen peroxide prices by a minimum of $0.06 per pound (100 percent basis) in the United States and $135 (Canadian) per metric ton in Canada for all grades of hydrogen peroxide except for high purity grades of hydrogen peroxide for the semiconductor market. High purity hydrogen peroxide prices for semiconductor customers will increase 15 percent.
FMC’s hydrogen peroxide energy and transportation fuel surcharges as posted on its web page will remain in force. 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 peroxide. The transportation fuel surcharge is adjusted monthly and is tied to the cost of diesel fuel and crude oil. Because hydrogen peroxide is shipped as an aqueous solution, freight costs including fuel surcharges are a significant part of the delivered cost structure.
“This price increase is required during this time of high capacity utilization and inflationary cost pressures to allow investment to continue for FMC’s safe and reliable supply,” said Bob Zacker, hydrogen peroxide marketing manager, FMC Peroxygens.
FMC is a leading producer of hydrogen peroxide in North America with a broad network of plants and distribution centers located throughout the United States, Canada and Mexico.
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 5,000 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 2007 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.