Solvay to increase prices up to 20% of hydroquinone (HQ) and para-methoxyphenol (PMP or MeHQ)
Lyon, February 13th 2014--- Effective immediately or as contracts allow, SOLVAY AROMA PERFORMANCE increases the prices of hydroquinone and para-methoxyphenol up to 20%. This worldwide price increase is essential to restore profitability and ensure our HQ and PMP customers a full sustainability and growth of supply in the next years.
Main raw material feedstocks (i.e. phenol, methanol…), energy and labor costs in the producing areas of Solvay (USA, France and China) have significantly increased in 2013. Meanwhile our HQ and PMP prices have drastically decreased.
As a key global and responsible player, Solvay is striving to offer a continued high level of quality, services and performance everywhere in the world with the best available technology and ecofriendly process.
As an international chemical group, SOLVAY assists industries in finding and implementing ever more responsible and value-creating solutions. The Group is firmly committed to sustainable development and focused on innovation and operational excellence. Solvay serves diversified markets, generating 90% of its turnover in activities where it is one of the top three worldwide. The group is headquartered in Brussels, employs about 29,000 people in 55 countries and generated 12.4 billion euros in net sales in 2012. Solvay SA is listed as SOLB.BE on NYSE Euronext in Brussels and Paris (Bloomberg: SOLB:BB - Reuters: SOLB.BR).