The Albemarle Corporation announced today that it would raise prices of bromine-based flame retardants by 10%.
The Albemarle Corporation (NYSE: ALB), one of the worlds largest chemicals manufacturers, announced today that it would raise prices of bromine-based flame retardants by 10% starting in October.
The company announced that the price rise was necessary to support the corporation in light of increasing demand for its bromine products, and in order to ensure the stability of its inventories for ongoing supply to its clients.
This move has direct implications for, Israel Chemicals (TASE: CHIM), whose shares prices have risen with the announcement.
The big surprise in Israel Chemical's first quarter financials was actually from the ICL Industrial Products Division, a field in which it is considered a world leader. Operating profits from sales of bromine products jumped 80% and comprised 40% of Israel Chemical's total operating profit in the first quarter.
Published by Globes [online], Israel business news - www.globes.co.il - on September 21, 2006
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