The company says this is ‘in response to the continued escalation of its key raw materials and other input costs, in particular polyethylene, nylon and benzene’.
The increases are as follows for 2014:
“As our raw materials costs continue to rise in 2014, we will remain steadfast to a pricing strategy to recover these costs,” said Jerome A Peribere, president & CEO, Sealed Air. “In 2014 alone, suppliers of polyethylene (PE), nylon and benzene, large inputs to our products, have announced significant price increases on top of significant increases in 2013. Most recently in North America, PE suppliers announced price increases of $0.04 effective 1 February 2014, with further announced increases 1 March 2014. To date these increases range between 21% and 28% since 1 January 2013. Benzene prices have increased 25% over the past three months and nylon is increasing $0.10 or 6%.”
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