BASF TO HIKE SOME PRICES
NEW YORK — BASF Corp. said Tuesday it is increasing prices on commodity and selected specialty yarns for textile nylon knit applications by 3 to 7 percent, effective with shipments of Jan. 2, 1995.
Bill Scott, BASF’s sales and marketing manager for nylon textile products, said the price hikes are being implemented so the company can “improve profit margins for reinvestment in the business.”
Among the factors BASF said it took into account before implementing the hike were increases in costs of labor, energy and raw materials. “We believe this is the appropriate time to take this action, while we are enjoying a robust business climate without any machines standing idle,” Scott added. The increase marks the first time BASF has raised prices on comparable nylon products since the third quarter of 1993, when they had a similar increase.