PHILADELPHIA, April 23, 2014 (GLOBE NEWSWIRE) -- Chemtura Corporation (NYSE:CHMT) (Euronext:CHMT) today announced a price increase of up to 20% on the base price of all AXIONTM Octyltin products and AXION™ CS 1450 (MBTO). The price increase will be implemented effective immediately, or as contracts allow.
The AXIONTM products affected by this price increase are Organotin specialties based on Octyltin, including mono, di, tri and Tetraoctyltin products, which are used among others in specialty applications such as industrial intermediates, fine chemicals and catalyst applications.
The cost of key raw materials including Octyl- and tin- feedstock and utilities continues to climb, driven by tight supply and strong demand. It is Chemtura's expectation that feedstock and utility prices will continue to remain at high levels and with unpredictable volatility.
The price increase for AXION™ CS 1450 (MBTO) also reflects Chemtura's compliance with stringent market requirements for a higher purity grade catalyst.
Chemtura Corporation, with 2013 sales of $2.2 billion,1 is a global manufacturer and marketer of specialty and agrochemicals. Additional information about Chemtura is available at www.chemtura.com. Information about the Organometallics business is available at www.chemtura-organometallics.com.
1 2013 net sales of $2.2 billion reflects discontinued operations treatment for the completed sales of the Antioxidants and Consumer Products businesses.