Rockwood Lithium Increases Butyllithium Prices
PRINCETON, N.J.--(BUSINESS WIRE)-- Rockwood Lithium, a division of Rockwood Holdings Inc. (NYS: ROC) , announced that prices for butyllithium will be increased by 4 to 6 percent, effective today, as contracts permit.
"The company is taking this action to recover the increased costs for raw materials," said Dr. Gerd Michael Kraemer, Vice President Global Marketing and R&D of Rockwood Lithium. "Prices for lithium-based raw material as well as energy costs at our various locations continue to increase and require this adjustment."
Butyllithium is the most important lithium containing organometallic compound. It is used in organic synthesis and as initiator for the anionic polymerization of synthetic rubber.
Rockwood Lithium continues to develop cost-effective and reliable sources of supply and has invested in new capacities and cost-effective technologies. Appropriate prices are necessary to ensure that Rockwood Lithium will remain a long-term reliable and innovative partner for the company's global customers.
Rockwood Lithium is the leading iOCnternational producer of lithium compounds. The lithium production facilities are conveniently located in Germany, the U.S., Chile, India and Taiwan. Since 2004 this business is part of Rockwood Holdings, Inc. In 2012 the brand name changed from Chemetall Lithium to Rockwood Lithium.
Rockwood Holdings, Inc. is a leading global inorganic specialty chemicals and advanced materials company. Rockwood has a worldwide employee base of approximately 9,700 people and annual net sales of approximately $3.7 billion. The company focuses on global niche segments of the lithium, surface treatment, pigments and additives and advanced materials markets. For more information on Rockwood, please visit www.rocksp.com.
The information set forth in this press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the business, operations and financial condition of Rockwood Holdings, Inc. and its subsidiaries and affiliates ("Rockwood"). Words such as "anticipates," "believes," "estimates," "expects," "forecasts," "predicts" and variations of such words or expressions are intended to identify forward-looking statements. Although Rockwood believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized. "Forward-looking statements" consist of all non-historical information, including any statements referring to the prospects and future performance of Rockwood. Actual results could differ materially from those projected in Rockwood's forward-looking statements due to numerous known and unknown risks and uncertainties, including, among other things, the "Risk Factors" described in Rockwood's periodic reports on file with the Securities and Exchange Commission. Rockwood does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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