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Polymer Group announces global price increases

16
Jun '07
Polymer Group Inc announced that is implementing global price increases on most of its converted and roll goods products due to high levels of raw materials prices that have increased, in some cases, nearly 30% over the last six months.

The price increases vary by specific product and range from 3 to 12 percent. The global supply situation of viscose is creating a difficult sourcing environment.

In addition to pulp-based materials, petroleum-based raw materials including polyester, polypropylene and polyethylene, have increased since the beginning of the year.

"Prices for our raw materials eased in late 2006, but have since increased steadily as the capacity of our suppliers remains tight," said Veronica (Ronee) M. Hagen, PGI chief executive officer.

"We have been managing some of the cost increases throughout the year. However, as certain raw materials have seen dramatic increases in recent months, we are compelled to make necessary adjustments."

"We are committed to our customers to ensure we are delivering value through efficiency, quality and service. These price increases are necessary to ensure our customers continue to receive the best total value in the industry," Hagen added.

Polymer Group Inc


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