Global chemicals giant BASF has hiked prices in Europe for coatings resins by up to 15%.
The German company said the move, effective immediately, was due to increased costs for raw materials, transportation, energy, packaging, services and engineering.
It said the price rises affect its entire coatings resins portfolio, which are primarily used in the wood, automotive and industrial coatings markets. BASF said the level of increases depended on the product line.
BASF recorded sales of €52.6bn in 2006
