Germany’s chemical giant BASF announced that it will increase prices globally across its portfolios of lubricant additives, base stocks and finished lubricants by 5% to 9% depending on the specific product effective December 1, 2017, or as existing contracts permit.
BASF said the price adjustments “are necessary due to continued increases in the cost of raw materials, transportation, energy and regulatory.”
BASF’s global business unit Fuel and Lubricant Solutions is a leading supplier to the transportation and mineral oil industries worldwide and part of BASF’s Performance Chemicals division. BASF’s offerings cover fuel performance packages, refinery additives, polyisobutenes, engine coolants (Glysantin® brand) and brake fluids as well as lubricant additives, compounded lubricants, synthetic base stocks and components for metalworking fluids.
The business unit has its main facilities in Ludwigshafen, Germany, Cincinnati, Ohio, and Florham Park, N.J., in the U.S.A., Nanjing and Shanghai, China, as well as Sao Paulo, Brazil. Research and development is mainly driven out of Ludwigshafen, Germany, Tarrytown, N.J., U.S.A., and Shanghai, China.