FLORHAM PARK, NJ, May 21, 2018 – BASF will increase prices across its North American businesses in response to increasing challenges for transportation and logistics services, and to secure freight capacity and maintain customer service levels. The increases will be based on the specific impact of these costs to individual BASF business units and as contracts permit.
“It has become increasingly difficult to meet growing market demand in the current transportation environment,” said Teressa Szelest, President of Market and Business Development for BASF in North America. “We are implementing additional supply models and other means to secure the freight capacity that allows us to provide our customers with the products they need, when they need them.”
Securing services across all freight modes has been hampered by a variety of factors, including tightened shipping capacity, a truck driver shortage, increased regulations and higher fuel prices.
BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 18,200 employees in North America, and had sales of $17.9 billion in 2017. For more information about BASF’s North American operations, visit www.basf.com.
At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. The more than 115,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas. BASF generated sales of €64.5 billion in 2017. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (BAS). Further information at www.basf.com.