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Kronos hikes titanium prices in North America

Thu, 09/29/2011 - 3:13pm
The Associated Press

Kronos Worldwide Inc. said Thursday that it will raise prices for all titanium dioxide products sold in North America by 25 cents a pound.

The price increase kicks in on Saturday or as permitted by contract, the company said. Titanium dioxide is commonly used as a paint pigment and in other products.

The increase is in addition to previously announced price increases.

The company didn't give a reason for the increase.

In August, Kronos reported that its second-quarter profit more than quadrupled on higher average selling prices of the titanium dioxide pigments it produces.

The average selling price of its titanium dioxide pigments rose 39 percent in the second quarter, contributing to a 41-percent boost in sales for the quarter.

Kronos shares rose 14 cents to $17.07 in aftermarket trading. The shares slipped 26 cents to $16.93 during the regular trading session.

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