Tuesday, April 05, 2005
- Troy Corporation announces a price increase on certain of its Mergal®
based bactericides. The price increase reflects the continued escalation of key raw material, energy, logistics, and packaging costs. Effective April 15, 2005 and as allowed by contract, the prices for Mergal products will be increased by the amounts shown:
Americas & Asia Pacific
Worldwide demand for petroleum and natural gas based raw materials combined with tight supply and increasing end uses for amine based products have resulted in sharply higher costs.
These intermediates are used to manufacture surfactants for cleaning agents and detergents, timber protectants, herbicides, biocides, process chemicals for gas scrubbing, and lubricants. Though suppliers have announced plans to increase production, no short term relief is expected until 2007 or later. In addition, the costs of other raw materials, energy, labor, packaging, transportation, regulatory compliance, and solvents continue to escalate. This price increase is needed to support continued product investment, quality improvements, and technical and regulatory compliance, including Troy's commitment to Responsible Care®
About Troy Corporation
Troy Corporation makes every effort to provide a long-term commitment to the market through on-going investment aimed at reducing costs and increasing service. The company continually works to provide customers with added value through innovative products and creative solutions. Although this price adjustment covers only a portion of the increases the company has already absorbed (additional increases are anticipated), it will help the company provide the support and innovation its customers expect - particularly in the biocides business, which is already plagued by escalating regulatory costs and lower overall margins.
Founded in 1950, Troy Corporation is a manufacturer of performance materials including industrial preservatives and additives. The corporation headquarters is in Florham Park, NJ, with principal subsidiaries located in Canada, Latin America, Europe, and Asia.