The Petroleum Additives business of Chemtura Corporation announced last week a price increase on its Naugalube® ADPA products (Naugalube® 438L, Naugalube® 640, Naugalube® 680 and Naugalube® 750) of 50 cents per kilo effective Sept. 15, 2013, or as contracts allow. The company stated that this price increase "is to compensate for cost increases".
These Naugalube® additives are aminic dntioxidants used in lubricants for the prevention of lubricant oxidative degradation due to exposure to oxygen, heat, light and metals during storage and service. They are typically used in lubricant applications, such as passenger car and diesel engine oils, automatic transmission fluids, gear oils, hydraulic fluids, turbine oils, and greases, formulated with mineral and synthetic base stocks.
Chemtura's Petroleum Additives business also announced last week a 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. Chemtura stated "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".
Also last week, Chemtura's Petroleum Additives business announced a price increase on its Diphenylamine (DPA) in all packages of 10 cents per kilo effective Sept. 15, 2013 or as contracts allow. DPA is a chemical widely used as an antioxidant for lubricants, propellants, and explosives. It is also an important intermediate in the dye, agrochemical, pharmaceutical, and rubber and plastic additive industries. This price increase is to compensate for continuous increases in raw material and manufacturing costs, stated Chemtura.
Chemtura’s Petroleum Additives business comprises a broad portfolio of lubricant additives, synthetic basestocks and synthetic finished lubricants used in a wide range of applications and industries. 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.
(1) 2012 net sales of $2.6 billion reflects discontinued operations treatment for the sale of Chemtura's plastic antioxidants business.
