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Evonik Increases Prices of VESTAGON®

Published on 2008-08-27. Author : SpecialChem

ESSEN, Germany -- Evonik Industries' Coatings & Additives Business Unit announces a price increase for all VESTAGON PUR related powder coatings products in Europe, Asia, Australia/New Zealand, Near/Middle East, Africa and South America by 8 %, effective October 1st, 2008.

This increase includes all standard crosslinkers, matte polyurethane products as well as the newest crosslinking system developed for low-temperature cure. Relentlessly rising costs of raw materials, energy, labour and logistics have made this decision unavoidable, despite all efforts to further enhance productivity and cost reduction.

The Crosslinkers Business Line remains committed to continue the high level of innovation and service that customers have come to expect.

About Evonik Industries:

Evonik Industries is the creative industrial group from Germany which operates in three business areas: Chemicals, Energy and Real Estate. Evonik is a global leader in specialty chemicals, an expert in power generation from hard coal and renewable energies, and one of the largest private residential real estate companies in Germany. Our strengths are creativity, specialization, continuous self-renewal, and reliability. Evonik is active in over 100 countries around the world. In its fiscal year 2007 about 43,000 employees generated sales of about €14.4 billion and an operating profit (EBIT) of more than €1.3 billion.

Disclaimer

In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.

Source: Evonik Industries


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