Rockwood Lithium Increases Butyllithium Prices
Rockwood Lithium, a division of Rockwood Holdings (NYSE: 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.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.