Sealed Air Corporation announced a 5% North American price increase on select products in the Company’s Product Care division. The price increases will take effect Oct. 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 Sept. 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 and 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.