Rhodia is to increases its prices worldwide by up to 15%.

French speciality chemicals company Rhodia has announced it is to make worldwide price hikes, blaming rising energy, raw materials and transport costs.

The company said the increases will vary between 7% and 15%, depending on the product line.

“Although Rhodia has put into place a number of action plans over the past few years to improve productivity and reduce costs, the price increases announced today are required to help respond to the dramatic and simultaneous rising costs of energy, raw materials and transport, and to defend Rhodia’s margins at a time when the demand for specialty chemicals is strengthening worldwide,” a statement from the company said.

Rhodia currently employs around 16,000 people worldwide and generated sales of €4.8 billion (£3.5 million) in 2006. It is listed on Euronext Paris.

By Natasha Piscitelli