PHILADELPHIA--(BUSINESS WIRE)--The Petroleum Additives business of Chemtura Corporation (NYSE/Euronext: CHMT), today announced price increase of up to twenty percent, depending on the product, for its natural fatty acid based lubricants, effective October 1, 2013, or as contracts allow.
A global supply and demand imbalance has resulted in an escalation of raw material costs required to manufacture the lubricants. This increase is necessitated in order to ensure that we will be positioned to maintain sustained and reliable supply in the future.
Chemtura Petroleum Additives is a global and market-driven value innovator in supply of additives and finished lubricants for automotive and industrial applications. Additional information concerning the Petroleum Additives business is available at www.chemtura.com
Chemtura Corporation, with 2012 sales of $2.6 billion,(1) is a global manufacturer and marketer of specialty chemicals, agrochemicals and pool, spa and home care products. Additional information concerning Chemtura is available at www.chemtura.com.
(1) 2012 net sales of $2.6 billion reflects discontinued operations treatment for the sale of Chemtura's plastic antioxidants business.