Bayer Chemicals AG will increase for cresols

Bayer Chemicals AG will increase its prices worldwide for m-cresol, m/p-cresol and o-cresol by 12 percent. The reason for this, according to Peter Steglich, Chlorotoluene & Derivatives Marketing, is the significant increase in the cost of the raw material toluene. In connection with the reorganization of the Bayer Group, the chemicals business will shortly be transferred to the new, globally operating chemical company LANXESS. The new company, comprising most of Bayer's chemical business and some of Bayer MaterialScience's business units, is to be listed on the stock market under the name LANXESS at the beginning of 2005 at the latest.