SOLUTIA TO RAISE ACRYLIC PRICES
NEW YORK — Solutia Inc. said it intends to hike its prices on acrylic fiber for the apparel business by 6 to 10 percent, effective April 1.
Gary Peterson, business director for the company’s apparel fibers unit, said Tuesday that the increase was necessary “to offset the continued rise in the price of oil-derived raw materials, which are at their highest levels of a decade and are still climbing.”
This marks the company’s second increase of acrylic fiber prices in recent months. In January, it imposed a 6 to 8 percent increase that Peterson said was successful.
For much of the last year, synthetic fiber prices have been rising, driven by the climbing cost of oil.