Sealed Air Corporation says it is implementing a price increase of 2.5 – 5.0 per cent for the majority of its Food Care division’s products in Africa, Europe and Middle East with the exception of Switzerland and the United Kingdom who received price increases last year.
“The price adjustment is the result of escalation of notable increases in the Company’s raw materials costs including a 19% rise in the price of polyethylene, a 16% rise in nylon and a 35% rise in polystyrene as well as other non-materials costs such as power, labor and transportation in the range of 1-4%,” said Karl R. Deily, President of Sealed Air Food Care division. “Despite the necessary price changes, we are working to minimize the impact to our customers while delivering them the same high level of value and innovation.”
The price changes include an increase on all shrink bags, rollstock products, food films and vertical pouch packaging.
Sealed Air Corporation is a knowledge-based company focused on packaging solutions that help customers achieve their sustainability goals in the face of today’s biggest social and environmental challenges.
Its portfolio of widely recognized brands, including Cryovac® brand food packaging solutions and Bubble Wrap® brand cushioning, enables a safer and less wasteful food supply chain and protects valuable goods shipped around the world. Sealed Air generated $4.2 billion in sales in 2016 and has approximately 14,000 employees who serve customers in 117 countries.