Price Increase for Additives and Binders
Evonik Tego Chemie GmbH announces price increases which will go into effect in the 4th quarter of 2008. The increases will be at different levels, depending on the product group affected. In a few cases the price adjustment will be in the double-digit range.
In addition to the overall sharp increases in raw material prices, increased energy-, packaging-, and transportation costs have also contributed to the product cost structure. Evonik Tego Chemie GmbH sees no alternative but to follow through with this action, as internal cost-reduction measures alone are not enough to compensate for the external cost increases.
Further information is available at www.tego.de
About Evonik
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 (EBITDA) of more than €2.2 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.