SOURCE: Oil-Dri Corporation of America

Oil-Dri Corporation of America

July 12, 2016 16:49 ET

Oil-Dri Announces Price Increase on Clay Floor Absorbents

CHICAGO, IL--(Marketwired - Jul 12, 2016) - Oil-Dri Corporation of America (NYSE: ODC) announced today that it is implementing a 3% price increase on its floor absorbent products effective August 1, 2016, or when existing contracts next allow. The price increase is due to the rising costs of mining, regulatory compliance, taxes, labor, hauling and health benefits.

Oil-Dri is a leading supplier of specialty sorbent products for industrial and automotive applications, selling both through brand and private label channels. Its primary floor absorbent products are sold under the brand names Premium, Absorbs-It, and Leak n' Spill.

The year 2016 marks Oil-Dri's seventy-fifth year of business. The Company is proud to be celebrating this momentous anniversary and looks forward to the next milestone. While floor absorbents were the Company's initial product, it has since diversified its portfolio to include products that supply pet care, crop and horticultural, sports field, fluids purification, and animal health markets.

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