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Cologne, North Rhine-Westphalia, Germany, 2022/03/17 - The Flavors & Fragrances (F&F) business unit of specialty chemicals company LANXESS is increasing prices worldwide for its entire portfolio of preservatives, benzoates, intermediates, aroma chemicals and multifunctionals with immediate effect - LANXESS.co. FRA: DE Frankfurt: LXS
Customers will be contacted individually regarding the specifics of the measure as it applies to their products or regions.
The reasons for the adjustments are, in particular, unprecedented challenges with a significant impact on logistics and production. Fragile supply chains, dramatically increased raw material and energy costs - not least as a result of the war in Ukraine with oil and gas prices at record levels - bring significant consequences for the entire supply chain.
Offerings from F&F are primarily used to provide flavor, fragrance, shelf life and essential performance characteristics in a wide variety of consumer products, such as food, beverages, cosmetics, cleaners, detergents, pharmaceuticals and animal feed.
LANXESS (lanxess.com) is a leading specialty chemicals company with sales of EUR 6.8 billion in 2019. The company currently has about 14,400 employees in 33 countries. The core business of LANXESS is the development, manufacturing and marketing of chemical intermediates, additives, specialty chemicals and plastics. LANXESS is listed in the leading sustainability indices Dow Jones Sustainability Index (DJSI World and Europe) and FTSE4Good.
This company release contains certain forward-looking statements, including assumptions, opinions, expectations and views of the company or cited from third party sources. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial position, development or performance of LANXESS AG to differ materially from the estimations expressed or implied herein. LANXESS AG does not guarantee that the assumptions underlying such forward-looking statements are free from errors, nor does it accept any responsibility for the future accuracy of the opinions expressed in this presentation or the actual occurrence of the forecast developments. No representation or warranty (expressed or implied) is made as to, and no reliance should be placed on, any information, estimates, targets and opinions contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein, and accordingly, no representative of LANXESS AG or any of its affiliated companies or any of such person's officers, directors or employees accepts any liability whatsoever arising directly or indirectly from the use of this document.