Evonik Industries' Coatings & Additives Business Unit announces a price increase for all Fischer-Tropsch and polyethylene waxes marketed under the trade name of VESTOWAX® in Europe and the Middle East. The price rise will take effect from February 1, 2010 and will be between 6 and 8%, depending on the VESTOWAX® grade. This increase does not affect current price agreements and contracts with validity for 2010.

The increase affects all Fischer-Tropsch and polyethylene hard paraffins and Fischer-Tropsch and polyethylene oxidates. In spite of all our efforts to increase productivity and reduce costs, unfortunately the increases in costs for raw materials, energy, wages, and logistics have made this decision necessary.

Source: Web of Evonic