OREANDA-NEWS. Air Products’ (NYSE:APD) Materials Technologies segment today announced that, effective immediately or as contracts permit, it will increase prices globally for process materials and advanced materials supplied by its Electronics business.

Demand for Electronics materials continues to grow. These price increases are necessary to recover increasing raw materials, production costs, and continued supply reliability, quality improvements and research and development activities in order to support reinvestment to meet global market needs.

On September 16, 2015 Air Products announced its intent to complete a spin-off of its Materials Technologies segment by September 2016. Last month it was announced the spin-off company’s name will be Versum Materials.