LANXESS increases prices for inorganic pigments
Specialty chemicals company LANXESS is imposing global price surcharges for its inorganic pigments with immediate effect. Prices will rise by EUR 400 per metric ton for iron oxide pigments from the production site in Krefeld-Uerdingen, Germany, and EUR 200 from the Porto Feliz site in Brazil – or the equivalent amount in national currency. In addition, the Inorganic Pigments business unit is also adjusting the quotations for chromium oxides. Customers will be contacted individually.
The reasons for the adjustments are, in particular, unprecedented challenges with a significant impact on production and logistics. Compared with the previous year, energy prices are at a significantly higher level and are expected to remain high and volatile for the rest of the year, not least as a result of the war in Ukraine. Enormous shortages and cost increases for raw materials and freight capacities are additional burdening factors.
The LANXESS Inorganic Pigments business unit is one of the world's largest manufacturer of synthetic iron oxides and a leading producer of inorganic chrome oxides. These products have a track record going back many decades as colorants for building materials, paints and coatings, plastics, paper and other applications. These high-tinting-strength inorganic pigments are produced according to strict sustainability criteria.
Detailed information on the product range can be found on the internet at www.bayferrox.com.
Forward-Looking Statements
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors, nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accepts any liability whatsoever arising directly or indirectly from the use of this document.
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