Grace Construction Products, an operating segment of W. R. Grace & Co., has announced that, effective August 15, 2008, it is implementing product price increases of up to 10% across its concrete and masonry admixture product lines. In addition, certain specialty products will have price increases exceeding 10%. Further, effective September 15, the price of Grace liquid pigments will be increased by 10 cents a pound.
The company believes that further price increase actions may be necessary, depending on ongoing raw material and market place conditions. Raw materials supporting the Grace Construction Products portfolio include olefins, organic chemicals, gypsum and specialty materials.
This move is in response to unprecedented raw material and energy inflationary pressures. Since the end of 2007, the Industrial Chemicals Producer Price Index has increased at an annual rate of over 25%, by far the steepest in over 10 years.
"We will offset a portion of this inflation through our ongoing productivity programs, but the exceptional nature of these cost increases has outpaced these programs and requires us to take this action," said Andrew Bonham, president of Grace Construction Products. "We remain committed to maintaining a high level of product quality, personalized service and continued innovation focused on creating value for the concrete industry."