BATON ROUGE, La. (AP) -- Albemarle Corp. said Monday it would raise prices up to 20 percent for flame retardants used in many products beginning with shipments on Oct. 1 or when allowed under contracts.
The increase would be the latest in a series of price hikes announced by the Baton Rouge company.
The company said it would add 40 cents per kilogram, or 10 to 12 percent, to Saytex CP2000 retardant prices and $1 per kilogram, or about 20 percent, for Saytex 102E globally. In many regions including the Americas, it will add 60 cents per kilogram, or about 10 percent, to prices for Saytex 8010.
Spokeswoman Brandi Narez said the company raised prices to get "value for our products in a tight supply-demand environment."
Albemarle sells flame retardants added to polymers used in wire and cable, foam and other materials.
Last week, Albemarle announce price increases for mineral flame retardants and curatives of 10 percent to 20 percent.
Albemarle shares fell 42 cents to close at $40.81.