Solvay announces additional price increase for polyamide compounds and fibers to address continuing raw material cost escalation
LYON, France, March 9, 2017– In addition to the 300€/T price hike announced earlier this quarter, Solvay, a world leader in polyamide-based performance materials, announces a supplementary global price increase for PA6 and PA6.6 based compounds and fibers.
The strong and continuous rise in cost of major base-chemicals, some of which have nearly doubled since end-Q4 2016, steers Solvay Performance Polyamides to adopt a second wave of price increases of 300€/T for Q2-2017 for its PA6 and PA6.6 based products, worldwide.
Solvay is a multi-specialty chemical company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers in diverse global end markets. Its products and solutions are used in planes, cars, smart and medical devices, batteries, in mineral and oil extraction, among many other applications promoting sustainability. Its lightweighting materials enhance cleaner mobility, its formulations optimize the use of resources and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 27,000 employees in 58 countries. Pro forma net sales were € 10.9 billion in 2016, with 90% from activities where Solvay ranks among the world’s top 3 leaders. Solvay SA (SOLB.BE) is listed on Euronext Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLB.BR) and in the United States its shares (SOLVY) are traded through a level-1 ADR program.