INDIANAPOLIS, Dec. 6, 2010 /PRNewswire/ -- Vertellus Specialties Inc., a leading specialty chemicals company, today announced that, effective January 1, 2011, it would increase the price of its Vitride® reducing agent worldwide and is planning additional capacity investments to support the continued growth of the product line.
The price of Vitride® will be increased by an average of 10% for all non-contract customers or as existing contracts permit. The price increase will enable Vertellus to continue to invest in expanding its global supply to meet growing customer demand.
Earlier in 2010, through an expedited project at the Company's Vitride® manufacturing facility in Zeeland, Michigan, Vertellus completed a substantial expansion of capacity to support strong demand for Vitride®. Dr. Jim Keay, Business Director for Vertellus Specialty Chemicals division said, "The capacity expansion at Zeeland is now on stream. Increasingly, Vitride® is becoming the reducing agent of choice to improve customers' processes as well as helping generic pharmaceutical producers find more effective routes to their new products. Vertellus' experience in working on reactions of this type can provide support and guidance to customers to improve the selectivity, yield and overall cost of the target molecule. As such, we remain committed to future investments to ensure Vitride® is available for developmental and commercial scale use as needed. We are moving forward with the development and design of the next increment of capacity to continue to stay ahead of demand."
Vitride® reducing agent has multiple applications in pharmaceutical, flavor and fragrance as well as agrochemical manufacture. Demand for Vitride® has grown rapidly over the past few years as companies in the chemical synthesis industry have appreciated its multiple advantages. Vitride® is more selective, safer and easier to handle than many other reducing agents. This often leads to a lower cost route for the manufacture of complex chemicals and pharmaceuticals while limiting operational risks and worker exposure commonly associated with other reducing agents. These efforts represent a steady and ongoing commitment to Vertellus' longstanding leadership position in Vitride® manufacture. In addition to the expansion in manufacturing capacity, the Company has also expanded the supply and sales infrastructure for its Specialty Chemicals products, including the addition of enhanced distribution capabilities, new sales resources in China and increased technical support throughout the global Vertellus system.
Vertellus is committed to continued investment in, and expansion of, its longstanding leadership position in this area as well as continuing to expand its offerings to the chemical synthesis industry.
About Vertellus Specialties Inc.
Vertellus is a specialty chemicals company focused on the manufacture of ingredients used in pharmaceuticals, personal care, nutrition, agriculture, and a host of other market areas affected by trends favoring "green" technologies and chemistries. Vertellus is the #1 global producer of pyridine and picolines, specialty pyridine derivatives, DEET, castor oil derivatives and systems, and citrate polymer additives and systems, and the world's #2 producer of Vitamin B-3. Vertellus benefits from a technically advanced global manufacturing base and has approximately 700 employees. Vertellus is headquartered in Indianapolis, Indiana.
SOURCE Vertellus Specialties Inc.