The price increase of €100/tonne will take place on 1 February 2013, depending on customer contracts.

Ashland says this price increase is primarily driven by the continued escalation in costs for key raw materials used at its manufacturing units. 

Ashland Performance Materials is a business unit of Ashland Inc (NYSE: ASH), USA.

• Ashland's European price increase follows recent announcements of price increases for the North American market from Reichhold and AOC.