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USA:Polymer Group Inc increases prices around the globe |
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2005-3-22
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Leading producers of nonwovens Polymer Group Inc, announced it will increase prices on its products globally due to significantly higher raw material costs.
Price increases from suppliers to PGI continue to rise this year as oil prices reach record highs. The company experienced increases of more than 50 percent last year on certain petroleum-based raw materials that are key components of its nonwoven products.
In addition, PGI has been impacted by higher costs of polypropylene, the company''s largest raw material component. Polypropylene supply is expected to remain tight through 2005. Other costs, such as transportation and energy, also continue to go up.
"PGI continues to focus on streamlining manufacturing and reducing our costs to ensure we deliver the best value, highest quality and most innovative products to our customers. These efforts allow us to combat raw material price changes to a degree. However, current market conditions require us to offset some of the impacts with price increases to our customers. This phenomenon is not unique to PGI but is impacting our entire industry," said PGI''s chief executive officer, James L. Schaeffer.
Polymer Group Inc is one of the world''s leading producers of nonwovens, is a global, technology-driven developer, producer and marketer of engineered materials. With the broadest range of process technologies in the nonwovens industry, PGI is a global supplier to leading consumer and industrial product manufacturers. The company operates 21 manufacturing facilities in 10 countries throughout the world. |
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