PHILADELPHIA--(BUSINESS WIRE)--Chemtura Corporation (NYSE: CHMT) today announced that due to the continuing escalation of the cost of tin raw material, a further price increase of up to 20 percent will be implemented for all AXIONTM tin products effective Feb. 1, 2011, or as contracts allow.
AXION™ tin products are used amongst others in specialty applications like glass coating, synthesis and catalyst applications.
The cost of the raw material tin continues to climb, driven by tight supply and strong demand. LME tin prices have reached historic heights in the range of $27,000 (U.S.)/t. It is our expectation that tin cost will continue to remain at high levels and with very high volatility.
Further price adjustments will be applied proportional to changes of other key raw materials and cost elements.
Chemtura Corporation and its subsidiaries, with 2009 sales of $2.3 billion, together are a global manufacturer and marketer of specialty chemicals, agrochemicals, and pool, spa and home care products, including 50 years of production excellence with Chemtura Organometallics GmbH. Additional information concerning Chemtura is available at www.chemtura.com. Information about the Organometallics business is available at www.chemtura.com/organometallics.