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Rockwood Holdings, Inc. (NYSE:ROC) announced today that Rockwood Lithium, a division of Rockwood Holdings, will implement price increases for butyllithium and other organometallics by approximately 4 percent globally on October 15th, 2013, as contracts permit.
“Prices for energy and raw material, particularly solvent costs, have been increasing over the last 12 months, which makes this step necessary,” said Dr. Gerd Michael Kraemer, Vice President Global Marketing and R&D of Rockwood Lithium. “Rockwood continuously seeks to improve production costs at various locations to offset higher material costs, while remaining committed to providing our customers leading quality products.”
Rockwood Lithium manufactures organometallics used in the organic synthesis of active pharmaceutical ingredients, agrochemicals and fragrances and flavors. Butyllithium, the most important lithium-containing organometallic compound, is applied to initiate 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 to remain a long-term reliable and innovative partner for the company’s global customers.
Rockwood Holdings, Inc. is a leading global specialty chemicals company. Rockwood has a worldwide employee base of approximately 7,100 people and annual net sales of approximately $3.0 billion in 2012 (after adjustment for the sale of Advanced Ceramics business which closed on August 31, 2013). Rockwood focuses on global niche businesses in the specialty chemicals, pigments and additives markets.
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This press release contains, and management may make, certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts may be forward-looking statements. Words such as "may,” “will,” “should,” “could,” “likely,” “anticipates," “intends,” "believes," "estimates," "expects," "forecasts," “plans,” “projects,” "predicts" and “outlook” and similar words and expressions are intended to identify forward-looking statements. Examples of our forward-looking statements include, among others, statements relating to our outlook, our future operating results on a segment basis, our dividend yield, the expected timing and closing of the announced divestitures and the proceeds from the announced divestitures, our future Adjusted EBITDA, Adjusted EBITDA margins and free cash flows, our share repurchase plans and our strategic initiatives. Although they reflect Rockwood’s current expectations, they involve a number of known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied, and are not guarantees of future performance. These risks, uncertainties and other factors include, without limitation, Rockwood’s business strategy; changes in general economic conditions in North America and Europe and in other locations in which Rockwood currently does business; competitive pricing or product development activities affecting demand for Rockwood’s products; technological changes affecting production of Rockwood’s materials; fluctuations in interest rates, exchange rates and currency values; availability and pricing of raw materials; governmental and environmental regulations and changes in those regulations; fluctuations in energy prices; changes in the end-use markets in which Rockwood’s products are sold; hazards associated with chemicals manufacturing; Rockwood’s ability to access capital markets; Rockwood’s high level of indebtedness; risks associated with competition and the introduction of new competing products, especially from the Asia-Pacific region; risks associated with international sales and operations; risks associated with information securities and the risks, uncertainties and other factors discussed under "Risk Factors" and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Rockwood's Form 10-K for the year ended December 31, 2012 and other periodic reports filed with or furnished to the Securities and Exchange Commission. Rockwood does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.