Benzinga | Mar 29, 2021 05:01PM EDT

GCP Applied Technologies Announces Price Increase For Cement Additives

GCP Applied Technologies (NYSE:GCP) has announced that it is implementing price increases for certain Cement Additives, where allowable under contract terms.



"We are committed to providing customers with the highest-performing products and industry-leading technical service. This price increase is necessary to meet unprecedented inflationary pressures facing the global chemical and construction industries. These are resulting from tightness in the raw materials supply chain exacerbated by restrictions of ocean freight and the winter storm which impacted gulf coast chemical manufacturers in the US. We now see that we are likely to be in an inflationary cycle for all of 2021," said Dr. Boudewijn van Lent, GCP's Executive Vice President of Specialty Construction Chemicals.

GCP's regional sales organization will contact customers individually to discuss the details, which will vary by product.