Air Products and Chemicals Inc. (APD), a global leader in polyurethane additives, is set to increase the price of its polyurethane additives products by 5%, effective Aug 15, 2014. The increase in prices is effective for all polyurethane additives including Dabco, Polycat, and Versalink products in North America, South America and South Africa. The price increase is aimed at recovering higher operating and raw material costs.
Air Products continues to focus on reducing costs, lowering supply chain risk and achieving sustainability goals, which are vital for reuse and recovery.
Air Products benefits from a diverse customer base, sustained pricing power and cost-reduction measures. New business deals and strategic investments are expected to support results in fiscal 2014. Moreover, the acquisition of a 67% stake in Chilean industrial gas company, Indura S.A., has ushered in substantial growth opportunity for Air Products.
Air Products provides atmospheric, process and specialty gases, performance materials, equipment; and technology. It not only strives to meet international industry standards, but also satisfies the most demanding requirements for specific products and superior technology and services.
Air Products expects its strategic actions, including productivity improvement, better asset utilization, disciplined project execution and cost management initiatives to drive earnings in fiscal 2014. Moreover, it remains committed to maximizing its shareholder return. The company anticipates stronger momentum in the second half of the year.
Air Products currently carries a Zacks Rank #4 (Sell).
Other better-ranked companies in the chemical space worth considering include Marrone Bio Innovations, Inc. (MBII), Ashland Inc. (ASH) and Cytec Industries Inc. (CYT). While Marrone Bio Innovations sports a Zacks Rank #1 (Strong Buy), Ashland and Cytec Industries hold a Zacks Rank #2 (Buy).
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