Rhein Chemie Corporation raises prices for rubber products
Wednesday, 05. July 2006 Rhein Chemie Corporation, a wholly owned subsidiary of chemicals company LANXESS Corporation, announced today that it will increase prices across all rubber division product lines effective July 1, 2006, or as contracts allow.
Chardon, OH Rhein Chemie Corporation, a wholly owned subsidiary of chemicals company LANXESS Corporation, announced today that it will increase prices across all rubber division product lines effective July 1, 2006, or as contracts allow.
This action is being taken to reflect Rhein Chemie’s commitment to provide specialty solutions to its customers through investments in innovation and applications technology. “We have seen segments of our business rapidly becoming more commodity in nature with cost being the focal point. The current pricing structure for these segments, especially considering the impact of raw material trends, does not support innovation and applications technology”, stated Michael Marasch, Vice President Sales and Marketing. “Rhein Chemie’s core competency is providing customers with value added solutions and specialties. As part of our strategy to maintain best-in-class service to our customers, we continue to invest in technology and the development of expertise to provide innovations to the industry.”
About Rhein Chemie
Rhein Chemie Corporation is a wholly owned subsidiary of LANXESS Corporation, Pittsburgh, PA. Rhein Chemie Corporation is part of the global business unit Rhein Chemie, which is an enterprise in the chemical industry with a history of success spanning over 100 years in the custom additives and services segment. The company with headquarters in Mannheim, Germany employs some 1,000 people who each year manufacture and market products for numerous areas of the rubber, lubricant, plastics and polyurethane industries. The company has subsidiaries and production sites in Europe, Asia and North/South America.
LANXESS Corporation was formed when the Bayer Group combined most of its chemical businesses and large segments of its polymer activities. The company began operating as a legal entity in the United States on July 1, 2004. LANXESS Corporation is a member of the German LANXESS Group that was spun-off from Bayer in January 2005. The LANXESS Group manufactures high-quality products in the areas of chemicals, synthetic rubber and plastics. The companies’ portfolio comprises basic and fine chemicals, color pigments, plastics, synthetic rubber and rubber chemicals, leather, textile processing chemicals, material protection products and water treatment products.
Chardon, 05. July 2006
This news release contains forward-looking statements based on current assumptions and forecasts made by the management of Rhein Chemie Rheinau GmbH. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of our sole stockholder LANXESS Deutschland GmbH and the estimates given here. These factors include those discussed in LANXESS AG’s reports to the Frankfurt Stock Exchange. LANXESS AG and Rhein Chemie Rheinau GmbH assume no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.