Effective today, or as contracts allow, Evonik is increasing prices globally for its Isophorone-based products offered under the brand names VESTAMIN®, VESTANAT® and VESTAGON®.
Prices increase of minimum eight percent is driven by continued and rapid escalation of raw material costs, their availability, and increased manufacturing costs. This increase is required in order to provide continued service, support, and sustainable manufacturing for our customers.
Evonik is one of the world leaders in specialty chemicals. The company is active in more than 100 countries around the world and generated sales of €12.2 billion and an operating profit (adjusted EBITDA) of €1.91 billion in 2020. Evonik goes far beyond chemistry to create innovative, profitable and sustainable solutions for customers. More than 33,000 employees work together for a common purpose: We want to improve life today and tomorrow.
About Specialty Additives
The Specialty Additives division combines the businesses of versatile additives and high-performance crosslinkers. They make end products more valuable, more durable, save more energy and simply better. As formulation experts in fast growing markets such as coatings, mobility, infrastructure and consumer goods, Specialty Additives combines a small amount with a big effect. With its 3,700 employees the division generated sales of €3.23 billion in 2020.
About Evonik Crosslinkers
The Crosslinkers Business Line offers a broad range of products and competences for coatings and adhesives, as well as for high-performance elastomers and composites. Besides products based on isophorone chemistry the portfolio contains a full toolbox of amine curing agents for ambient and heat cure applications. The products are mainly used in industrial applications due to the mechanical strength, durability, chemical resistance and excellent adhesion properties. www.evonik.com/crosslinkers
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.