Industry News

Cognis Announces Price increase for Select Product Lines

Published on 2005-03-25. Author : SpecialChem

Cognis' Industrial Coatings & Adhesives business announced an increase in prices for its Versamid®, Genamid® and Versamine® product lines. Versamid® resins will increase globally by 10%, Genamid® resins will increase by 7% and Versamine® curing agents by 8%. The new pricing will be effective April 15, 2005 or as contract terms permit.

"This action is being taken in response primarily due to continued rising raw material and energy costs," comments Jim Aloye, Cognis Global Market Manager Resins, Industrial Coatings & adhesives. "The price adjustments are necessary to allow Cognis to remain competitive in the markets served by these products. It will enable Cognis to continue its long-term supply plans as well as maintain investments into technology development, facilities and customer growth efforts."

The Industrial Coatings & Adhesives business is a global segment of the Cognis Functional Products strategic business unit. Industrial Coatings & Adhesives' have a core strengths in epoxy curing agents, defoamers, dispersants, rheology modifiers, UV monomers & oligomers, and acrylic polyols to help solve in fomulations issues in epoxy, polyurethane, UV-cured, and waterbased systems. The industrial coatings and adhesive sector is focused on heavy duty (marine, protective, aerospace), automotive, civil engineering, adhesives and wood coating applications.

About Cognis

Cognis is a worldwide supplier of innovative specialty chemicals and nutritional ingredients. The company employes about 8,100 people, and it operates production sites and service centers in 30 countries. Cognis has dedicated its activities to a high level of sustainability and delivers natural source raw materials and ingredients for food, nutrition and healthcare markets, and the cosmetics, detergents and cleaners industries. Additionally, Cognis provides solutions for a number of other industries, such as coatings and inks, lubricants, textiles and plastics, as well as agriculture and mining.

Cognis is owned by private equity funds advised by Permira, GS Capital Partners, and SV Life Sciences. In 2003, Cognis recorded sales of 2.95 billion euros and an Adjusted EBITDA (earnings before interest, income taxes, depreciation, amortization and exceptional items) of 312 million euros.

Source: Cognis

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