In response to rapidly-escalating costs for raw materials and energy, Evonik´s Coatings & Additives Business Unit has announced a price increase of up to 25% for its DEGALAN Coatings Resins and PVC Modifier products, effective immediately. "Despite our best efforts to contain costs, continual dramatic increases in prices for our raw material and energy inputs leave us no choice but to pass on these higher costs to our customers", explained Dr. Dietmar Schaefer, head of Evonik's Coating Additives & Specialty Resins business line. "While we recognize the burden this places on our customers, we've reached the point where such a price increase is unavoidable; we must pass on our higher costs if we are to remain a viable and effective business partner for our customers" said Schaefer.
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.
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.