Tuesday, May 31, 2005
- Troy Corporation announces a price increase on certain of its Polyphase® dry-film preservatives. This price increase reflects the continued escalation of iodine, energy, logistics, and packaging costs. Effective July 01, 2005 and as allowed by contract, the price for the Polyphase products included will increase as follows:
$0.25 per pound
$0.30 per pound
$0.27 per pound
Worldwide demand for iodine, which is used in such new applications as flat screen videos along with its use in production for medical x-ray contrast media and various specialty products including Polyphase dry-film preservatives, continues to rise. In response to the tight supply, suppliers of iodine have already announced additional price increases along with plans for new capacity. The costs of other raw materials, energy, labor, packaging, transportation, and regulatory compliance, which are all required to provide these products and the necessary customer support, continue to escalate as well. This price increase is required to support continued product investment, quality improvements, and technical and regulatory compliance, including our 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.