Cytec Performance Specialties to implement surcharges
Cytec Industries Inc. announced the immediate implementation of global transportation and energy surcharges on all products produced by the Cytec Performance Specialties segment. These surcharges will affect products produced by the Mining chemicals, Phosphines and phosphorus Specialties, polymer additives, Specialty additives and water treatment businesses.
The transportation surcharge will be assessed at a rate of one to two cents per pound of product; the energy surcharge - which will vary from product to product - will be based on energy consumption during production.
Shane Fleming, President of Cytec Performance Specialties, said, "In recent months, we have been affected by the unprecedented rise in cost for fuel oil and natural gas. We have chosen to institute surcharges to cover a portion of the increased costs that have been incurred by our businesses."
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