Oil-Dri Announces Price Increases on its Industrial and Automotive Clay Absorbents
29 Junho 2023 - 5:07PM
Oil-Dri Corporation of America (NYSE: ODC) today announced that it
will implement price increases on its industrial and automotive
clay absorbents, effective September 1, 2023. These price
increases will range from 10% to 15%, depending on the product.
Daniel S. Jaffee, President and Chief Executive Officer, stated,
“The rising costs of mining, asset replacement, maintenance, and
labor have had a significant impact on our industrial and
automotive clay business. We continue to look for ways to save
costs and optimize operational efficiencies to relieve these
mounting cost pressures. However, as our focus on margin
restoration continues, it is necessary to implement these pricing
actions in order to maintain the high quality of our products and
service levels. We appreciate the partnership and
support of our loyal customers.”
Oil-Dri sales representatives will communicate additional
details of the price increase to customers directly.
About Oil-DriOil-Dri Corporation of America is
a leading manufacturer and supplier of specialty sorbent products
for the pet care, animal health and nutrition, bleaching clay and
fluids purification, agricultural ingredients, sports field,
industrial and automotive markets. Oil-Dri is vertically integrated
which enables the Company to efficiently oversee every step of the
process from research and development to supply chain to marketing
and sales. With over 80 years of experience, the Company continues
to fulfill its mission to Create Value from Sorbent Minerals. To
learn more about the Company, visit oildri.com.
Contact:Leslie A. GarberManager of Investor
RelationsOil-Dri Corporation of
AmericaInvestorRelations@oildri.com(312) 321-1515
Oil Dri Corp of America (NYSE:ODC)
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