DuPont (DD - Analyst Report) declared that it will raise prices for all of its titanium dioxide (TiO2) products sold in North America, Europe, the Middle East, Africa, Latin America and the Asia Pacific regions. The price hike will be effective from Jul 1, 2013, or as contracts permit.
DuPont said that price for its Ti-Pure titanium dioxide (TiO2) grades sold in the Asia Pacific and Latin America regions will be $200 per metric ton. Also, $200 per metric ton or €160 per metric ton will be charged for DuPont Ti-Pure TiO2 grades sold in the dollar markets and Eurozone markets in Europe, Middle East and Africa region, respectively.
Moreover, DuPont has priced Ti-Pure TiO2 grades at 8 cents per pound that are sold in the North America region with the exception of its RPS Vantage titanium dioxide products sold into paper and paperboard applications. The latter will be managed separately.
DuPont Titanium Technologies, the biggest producer of TiO2, serves customers around the globe in the coatings, paper and plastics industries. The company operates through plants in Tennessee, Mississippi, Delaware , Mexico, Taiwan and Florida . It has its technical service centers in Brazil, Mexico, Belgium, Russia, Taiwan, Korea, China, India and Delaware to serve the Latin American, European, Middle Eastern, Asian and North American markets.
DuPont is a global chemical and life sciences company and provides innovative products, materials, and services to the global market. The company beat expectations in first-quarter 2013 on strength in its agriculture business, reflected by strong corn seeds and crop protection products sales.
DuPont is witnessing strong momentum in its agriculture business. An early and strong start in the North American growing season boosted the agriculture business in the first quarter.
Moreover, DuPont should continue to benefit from the synergies of Danisco acquisition and its aggressive restructuring actions. DuPont also has numerous new products in its pipeline that are expected to create value for its customers.
DuPont carries a Zacks Rank #3 (Hold).
Other companies in the chemical industry with favorable Zacks Rank are Shin-Etsu Chemical Co., Ltd. (SHECY - Snapshot Report) , Celanese Corporation (CE - Analyst Report) and Methanex Corporation (MEOH - Analyst Report) . All of them hold a Zacks Rank #1 (Strong Buy).