Ashland (ASH) Announces Price Hike For Maleic Anhydride
Zacks Investment Research | Aug 21, 2017 09:27PM ET
Ashland Global Holdings Inc. (NYSE:ASH) announced that it will raise the price of maleic anhydride in North America by 2 cents per pound, which will be effective on all orders shipped on and after Sep 1, or as contracts permit.
According to Ashland, the hike is mainly in response to increases in costs of key raw materials. The latest move is expected to ensure effective service to customers in terms of quality and performance along with the ability to reinvest in the company’s product line.
Ashland, in its third-quarter fiscal 2017 earnings call, said that it has made significant progress with its pricing initiatives and sees year-over-year price gains to be more than raw material cost increases in the fiscal fourth quarter.
Shares of Ashland have declined 5.8% in last three months, underperforming the Original post
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