GCP Applied Technologies Announces Price Increase
GCP Applied Technologies (NYSE:GCP) has announced price increases for certain Cement Additives due to significant inflationary pressures affecting the global chemical and construction sectors. These pressures are linked to raw material supply chain tightness and disruptions caused by ocean freight restrictions and winter storms in the U.S. The company anticipates an inflationary cycle throughout 2021. GCP's regional sales teams will reach out to customers for specific product details.
- Implementation of price increases may improve margins amid rising costs.
- Inflationary pressures indicate potential ongoing challenges for profitability.
- Disruptions in raw material supply chain could affect product availability.
CAMBRIDGE, Mass., March 29, 2021 (GLOBE NEWSWIRE) -- 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.
About GCP Applied Technologies
GCP is a leading global provider of construction products technologies that include additives for cement and concrete, the in-transit concrete management system, high-performance waterproofing products, and specialty systems. GCP products have been used to build some of the world’s most renowned structures. More information is available at www.gcpat.com.
Media Relations
Christine Welby
+1 617.498.4976
mediainfo@gcpat.com
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