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Minteq International Inc., a wholly owned subsidiary of Minerals Technologies Inc., recently announced that beginning with shipments on or after April 1, 2008, or as permitted by current customer agreements, prices for its monolithic refractory products will increase 10 to 15%, depending on the grade of the material.
According to the company, the purchase prices for certain raw materials, including magnesia, bauxite and brown fused alumina, have increased to new highs since September 2007. These raw material cost increases are the result of changes in China’s export policy, including the elimination of tax rebates and subsidies, the imposition of new or increased taxes on exports, and a limit on the number of export licenses. The company continues to pursue cost reductions in its operations and alternative raw materials in order to offset the unfavorable impact caused by the increased costs of raw materials.
Visit www.mineralstech.com for additional information.