Evonik Increases Prices

07/02/2010

Effective August 1, 2010, the business line Industrial Specialties of Evonik will increase prices in Europe by 5 - 10 percent or even higher for oleochemical, petrochemical and organomodified siloxane (OMS) based products in industrial applications.

The price adjustments are attributed to the continuous increase in costs for key raw materials. Together with a tight supply situation for some raw materials, the increase in prices even accelerated during recent months. Furthermore increasing energy, transportation and legislative (REACh) costs made these increases inevitable. Although Evonik Goldschmidt GmbH has managed to optimize processes and costs, this could only partially offset increased raw material costs. As a consequence part of these additional costs has to be passed on to our customers in order to further offer innovative solutions and high product quality.

These price increases include among others product lines, like TEGO^® Antifoam, TEGOPREN^®, TEGOSIVIN^®, TEGOMER^®, REWOCOROS^® and REWOPOL^®.


About Evonik
Evonik Industries is the creative industrial group from Germany. In our core business of specialty chemicals, we are a global leader. In addition, Evonik is an expert in power generation from hard coal and renewable energies, and one of the largest private residential real estate companies in Germany. Our company’s performance is shaped by creativity, specialization, continuous self-renewal, and reliability. Evonik is active in over 100 countries around the world. In its fiscal year 2009 about 39,000 employees generated sales of about €13.1 billion and an operating profit (EBITDA) of about €2.0 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.