Published on : Friday, August 22, 2014
The price increases will take effect October 1, 2014.
“Our North American price increases are in response to the continued escalation of our key raw materials and other input costs, in particular polyethylene and nylon, which all major petrochemical (PE) suppliers announced will take place September 1.
These new price increases from our suppliers are on top of significant increases announced earlier in the year.
Cumulatively, since January 2013, the PE suppliers have increased prices between 13-22%, which includes a 4-8% in early 2014.
We are committed to delivering the broadest and most innovative product portfolio to our customers and with that objective, we need to recover raw material cost increases,” said Jerome A. Peribere, President & CEO, Sealed Air.
The Sealed Air 5% price increase will be applied to the following product families: Bubble Wrap® brand cushioning, Cell-Aire® foam and laminates, Jiffy® mailers, Instapak® film, Fill-Air® void fill, NewAir I.B.® and FillTeck™ inflatable cushioning materials, RapidFill® automated bags and Cryovac®, Opti® and CorTuff® shrink films.
Sealed Air Corporation creates a world that feels, tastes and works better.
In 2013, the Company generated revenue of approximately $7.7 billion by helping our customers achieve their sustainability goals in the face of today’s biggest social and environmental challenges.
Our portfolio of widely recognized brands, including Cryovac® brand food packaging solutions, Bubble Wrap® brand cushioning and Diversey™ cleaning and hygiene solutions, ensures a safer and less wasteful food supply chain, protects valuable goods shipped around the world, and improves health through clean environments.
Sealed Air has approximately 25,000 employees who serve customers in 175 countries.