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Nilit announces price adjustment of nylon 6.6 products

27
Mar '07
Nilit announced a price adjustment for most of its nylon 6.6 products. The price adjustment will vary by product and is scheduled to take effect in April.

The textile industry has been overwhelmed by significant challenges which affect Nilit's market sector, nylon 6.6. Among the challenges:
• The overall pressure on the entire production chain due to the demands of the large suppliers of (petrochemical) intermediates and the strong retail and discounts groups.
• Prices of intermediates (adipic acid, hexamethylene diamine, caprolactam and other polymers) remain at record levels worldwide.
• The shortage of adipic acid created by the increased demand for applications in other [non-nylon] industries.
• Several recent instances of force majeure created serious disruptions in the supply of raw materials.

In announcing the price adjustment, Director of Nilit's Fiber Division, Fabio Kahn, stated: “We took a critical look at the situation, the economics, the market, and our competitors. We take pride in the fact that Nilit remains among the few nylon 6.6 players that continue to believe in and invest in this business.”

According to the company, the price change will vary by product, application, region and currency and it will be in the range of 4-6%. This change will take effect during April 2007 and will not influence long-term contracts and commitments already in place.

This adjustment, says Kahn, “ensures that we can justify the investments we need to make to bring about new business opportunities for our customers without compromising quality and value.” He added that Nilit will “continue to develop innovations in nylon 6.6 while working toward decreasing costs and improving synergies among our plants.”


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