PHILADELPHIA, June 17, 2014 (GLOBE NEWSWIRE) -- Chemtura Corporation (NYSE:CHMT) (Euronext:CHMT) today announced a price increase of up to 30 percent on the base price of certain polymerization co-catalysts. The price increase will be implemented globally on July 1, 2014, or as contracts allow. Customers will be contacted individually regarding the specifics of the price increase as it applies to their products or regions. The products affected by this price increase are magnesium alkyls and solvent solutions of the full range of metal alkyls (see full list below).
These price increases are necessary to sustain investment in Chemtura Organometallics but are not anticipated to have a material effect upon the consolidated profitability and cash flows of Chemtura Corporation.
Chemtura Organometallics is a global partner for manufacturing, marketing and development of specialty organometallic products used in polymer production, synthesis of fine chemicals and pharmaceuticals, in processes for production of semiconductor devices and photovoltaic modules, in glass coating and automotive anticorrosion coatings. The business's core competency is the production and safe handling of selected reactive organometallic products.
"With our 50 years of operation and innovative development excellence and global supply chain capabilities, we are a sustainable partner to the polymerization co-catalyst industry. It is essential, however, that acceptable levels of financial return are maintained in order to reinvest for the future so that we can continue supply of high-quality products and services, along with the highest standards of health and safety and cost performance, to our global customers. The price increases will help re-establish the historical value of these products and establish a path to acceptable value across the entire product range," said Anne Noonan, senior vice president and president of Chemtura's Industrial Engineered Products segment.
Products affected by the price increase are the following:
| Neat (concentrated) Products |
| Alkyl Silanes (Alkyl Silanes Neat) |
| Aluminum Alkoxides (DEALOX Neat - Diethyl Aluminum ethoxide) |
| Aluminum Trioctyls (TOA Neat - Tri Octyl Aluminum) |
| Aluminum Trihexyls (THA Neat - Tri Hexyl Aluminum) |
| Solution Products |
| Magnesium Alkyls (BOMAG - Butyl Octyl Magnesium; BEM - Butyl Ethyl Magnesium) |
| Aluminum Triethyls (TEA Solution - Tri Ethyl Aluminum) |
| Aluminum Oxanes (MAO Solution - Methyl Aluminum Oxane) |
| Alkyl Aluminum Chlorides (DEAC Solution - Di Ethyl Aluminum Chloride; EADC Solution - Ethyl Aluminum Dichloride EASC Solution - Ethyl Aluminum Sesqui Chloride) |
| Alkyl Silanes - Alkyl Silanes Solution |
| Aluminum Alkoxides (DEALOX Solution - Diethyl Aluminum Oxide) |
| Aluminum Tri-isobutyls (TIBA Solution - Tri-Isobutyl Aluminum) |
| Aluminum Dialkylhydrides (DIBAH Solution - Diisobutyl Aluminum Hydride) |
| Aluminum Trihexyls (THA Solution - Tri Hexyl Aluminum) |
| Aluminum Trialkyls (IPRA Solution - Iso Prenyl Aluminum) |
Chemtura Corporation, with 2013 sales of $2.2 billion,1 is a global manufacturer and marketer of specialty and agro chemicals. Additional information about Chemtura is available at www.chemtura.com. Information about Chemtura's 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.