MOSCOW (MRC) -- Effective 1 June, or as contracts allow, BASF increased prices for numerous pigments by up to 15% worldwide, said the producer on its site.
The price increase predominantly affects phthalocyanine and inorganic pigments used in the coatings, plastics and printing industries. The price adjustments are necessary due to higher raw materials costs e.g. copper, TiO2 or cobalt, as well as further challenging environmental, health and safety costs.
As MRC reported earlier, BASF formed a global business unit (GBU) combining all of its pigments activities effective January 2016. In the second half of 2016, BASF carved out its pigments business and establish separate legal entities.
BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries. BASF generated sales of about EUR58 billion in 2016.
MRC