COLOGNE, Germany—The High Performance Elastomers business unit of Lanxess A.G. said it will raise prices for chloroprene rubber and adhesive grades, effective Jan. 1.
The cost will be $270 per metric ton globally. The firm said the adjustment reflects the general market and cost development over the last 12 months.
Chloroprene elastomers, manufactured under the brand name Baypren, are used in applications such as hoses, belts, axle boots and air springs as well as for adhesives.
The High Performance Elastomers business unit is part of Lanxess' Performance Polymers segment, which recorded sales of $4.5 billion in fiscal 2014. Lanxess is a specialty chemical manufacturer that recorded sales of $8.7 billion in 2014 and has 16,300 employees in 29 countries.