FRANKFURT AM MAIN, Germany, Feb. 20, 2019 /PRNewswire/ -- Driven by continued overall cost increases, particularly in key raw materials, the Surface Treatment global business unit of the Coatings division of BASF, operating under the Chemetall brand, is in the process of increasing prices for the Surface Treatment chemicals globally.
In addition to higher general costs, driven by legislation, inflation, and freight, the Surface Treatment business has been particularly affected by on-going price increases for key raw materials, which have been absorbed over an extended period of time.
"We have and are still facing an environment of increasing costs, across all regions and all surface treatment industry segments. Price increases for our products and services are necessary to sustain our commitment to delivering high-quality solutions for our customers while meeting their increasing service demands and quality standards," said Martin Jung, Senior Vice President Surface Treatment.
Price increases will be handled selectively across all countries and regions. Further details for all affected technologies and services will be communicated by the respective customer contacts.
About BASF's Coatings division
The Coatings division of BASF is a global expert in the development, production and marketing of innovative and sustainable automotive OEM and refinish coatings, decorative paints as well as applied surface treatments for metal, plastic and glass substrates in a wide range of industries. The portfolio is completed by the "Innovation Beyond Paint" program which aims at developing new markets and businesses. We create advanced performance solutions and drive performance, design and new applications to meet our partners' needs all over the world. BASF shares skills, knowledge and resources of interdisciplinary and global teams for the benefit of customers by operating a collaborative network of sites in Europe, North America, South America and Asia Pacific. In 2017, the Coatings division achieved global sales of about €3.97 billion.
Solutions beyond your imagination – Coatings by BASF. For more information about the Coatings division of BASF and its products, visit www.basf-coatings.com.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The more than 115,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of more than €60 billion in 2017. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.