Film packaging manufacturer Klöckner Pentaplast has announced an indiscriminate increase to its prices, blaming a “significant” rise in the cost of its raw materials.
The German company said that an increase in the price of polyethylene, polypropylene, polyethylene terephthalate, polyvinyl chloride and polystyrene was leading to a shortage of the materials in western Europe, requiring “additional expenses in the provision of raw materials”. “These shifts,” Klöckner Pentaplast continued, “are far in excess of oil-related increases” and have mainly been driven by the difficulty of obtaining supply in the region, due to a wave of force majeure declaration by some of the leading European polymer suppliers. The price hikes will take effect at the beginning of next month.
“Klöckner Pentaplast continues to counter cost increases with several internal measures while working on joint product optimisation and performance improvement projects with customers and suppliers to keep cost in order,” the firm added.
Klöckner Pentaplast group senior vice president of packaging and specialities for Europe and Asia Giles Peacock said: “Our efficiency efforts have only partially closed the gaps of the cost increase development. Klöckner Pentaplast’s product performance, consistent quality, product safety, technical expertise and support will continue to be guaranteed and remain focus points of the value strategy towards our customers.”
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