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2005-09-30
BASF Coatings increases
prices in North America
Seattle, WA, USA--(Jobwerx News)--BASF has announced price increases
for its Automotive OEM and Tier Coatings, Industrial Coatings and Refinish
Solutions businesses.
BASF has announced price increases for all segments of its North American
Coatings business. The company cites the unprecedented increases in raw
material and energy costs, linked directly to the costs of oil and natural
gas based feedstocks, as reasons for its action.
“The rising costs of raw materials, combined with other inflationary factors
such as rising costs of energy and transportation, by far outpace even
extraordinary productivity increases, making it necessary for BASF to
raise coatings prices,” said Rainer Blair, Group Vice President for BASF’s
coatings businesses in North America and the Global Automotive Coatings
Solutions business.
“It is apparent to BASF that these effects are not due only to spikes
in costs caused by recent natural events,” said Blair. “We now see clearly
that global economic conditions and fundamental shifts in energy markets
will have a long-term impact on the North American and global coatings
markets’ cost base. Clearly, we can no longer absorb these increases.
In the future, the focus of downstream industries will be on advanced
technical solutions and total process efficiencies, as the pressure on
material costs can no longer be sustained.”
“Global energy markets have undergone fundamental structural changes resulting
in a sustained shift of energy and raw material prices to significantly
higher levels,” Blair continued. “Furthermore, these structural changes
have been exacerbated by the recent tragic destruction and supply interruption
along the Gulf Coast caused by Hurricanes Katrina and Rita.”
BASF’s Automotive Coatings, Industrial Coatings and Refinish Solutions
businesses in North America will increase prices as follows, or as contracts
allow:
The automotive OEM and Tier Coatings Solutions business have announced
a price increase effective November 1, 2005 ranging from 15 percent to
25 percent depending on the feedstock make-up and relative price level
of individual product.
The Industrial Coatings Solutions business has announced an 8 percent
to 12 percent price increase for all products including coil coatings
and metal building products, effective November 1, 2005.
The Refinish Coatings Solutions business has announced price increases
for Automotive Refinish products based on the specific product line and
geographic factors. In the United States, these price are effective October
1, 2005.
BASF sales personnel will be contacting their customers to discuss these
necessary actions on an individual basis.
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