Ashland increases prices up to 15 percent due to inflation-related costs

Rhea-AI Summary

Ashland Inc. (NYSE: ASH) announced that effective October 1, 2022, it will implement a price increase of up to 15% across all its products due to rising costs from inflation, energy, raw materials, freight, and labor. This increase applies to various markets including life sciences, personal care, and specialty additives. Ashland's proactive approach aims to align its pricing strategy with the ongoing economic pressures affecting production costs.

Positive

• Price increase of up to 15% may help offset rising operational costs.
• Covers all products across diverse markets, potentially stabilizing revenue.

Negative

• Potential customer pushback on price hikes could impact sales volume.
• Increased prices may not fully compensate for ongoing inflationary pressures.

WILMINGTON, Del., Sept. 21, 2022 (GLOBE NEWSWIRE) -- Effective October 1, 2022, Ashland Inc. (NYSE: ASH) will increase prices up to 15 percent or as contracts allow, to cover continued general inflation related to raw materials, energy, freight, and labor. The price increase includes all Ashland products across all the markets and applications the company serves including life sciences, personal care, specialty additives and intermediates.

About Ashland 
Ashland Inc. (NYSE: ASH) is a focused additives and specialty ingredients company with a conscious and proactive mindset for sustainability. The company serves customers in a wide range of consumer and industrial markets, including architectural coatings, automotive, construction, energy, food and beverage, nutraceuticals, personal care and pharmaceutical. Approximately 3,800 passionate, tenacious solvers – from renowned scientists and research chemists to talented engineers and plant operators – thrive on developing practical, innovative and elegant solutions to complex problems for customers in more than 100 countries. Visit ashland.com and                                                 Ashland | Sustainability Overview to learn more. 

™ Trademark, Ashland or its subsidiaries, registered in various countries.

FOR FURTHER INFORMATION:

Investor Relations:	Media Relations:
Seth A. Mrozek	Carolmarie C. Brown
+1 (302) 594-5010	+1 (302) 995-3158
samrozek@ashland.com	ccbrown@ashland.com

Attachment

• Ashland to increase prices - FNL 20220921

FAQ

What is the price increase percentage for Ashland products effective October 1, 2022?

Ashland will increase prices by up to 15% on all its products effective October 1, 2022.

Why is Ashland increasing prices on its products?

The price increase is to cover continued inflation related to raw materials, energy, freight, and labor.

Which markets will be affected by Ashland's price increase?

The price increase will affect all markets and applications served by Ashland, including life sciences and personal care.

When will Ashland's price increase take effect?

The price increase will take effect on October 1, 2022.