In response to the continued escalation of its key raw materials and other input costs, in particular polyethylene, nylon and benzene, Sealed Air Corp. is in the process of implementing North American price increases ranging from 3 to 8 percent within the company’s food care and product care divisions. The increases are as follows for 2014:
- 8 percent increase on food packaging trays effective Feb. 3.
- 5 percent increase on paper packaging systems effective Mar. 1
- 5 to 8 percent increase on other protective packaging products effective Mar. 1
- Three and a half percent increase on Food Care hygiene solutions effective Mar. 3
- Four-to-six percent on food care bags and rollstock effective Mar. 24
“As our raw materials costs continue to rise in 2014, we will remain steadfast to a pricing strategy to recover these costs. 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 February 1, 2014, with further announced increases Mar. 1, 2014. To date these increases range between 21 percent and 28 percent since January 1, 2013. Benzene prices have increased 25 percent over the past three months and nylon is increasing $0.10 or 6 percent,” says Jerome A. Peribere, president and CEO of Sealed Air.
Sealed Air Corp.
(201) 791-7600
