CHARLOTTE, N.C.----Feb. 6, 2017-- Sealed Air Corporation (NYSE:SEE) today announced that it is implementing a price increase of four percent for the majority of its North American Product Care division packaging products, effective March 1st, 2017.
This price adjustment is in response to increases in the cost of resin and other raw materials that are expected during 2017, and to address the rise in other input costs such as labor, utilities, freight, and supplies.
"We have taken significant actions across the Product Care business to offset these cost increases over the past few years while maintaining our commitment to providing the most innovative solutions to our customers. In doing so we have mitigated the need for broad price adjustments across our portfolio since 2014; however, market forces require that we take action now to counter these inflationary increases, including the recent rise in petroleum based input cost." said Kenneth P. Chrisman, President of Sealed Air's Product Care division.
The four percent price increase will be applied to: NewAir I.B.® Film, Bubble Wrap® IB Film, Fill-Air® Inflatables Film, Instapak® Film & Dispenser Solution,Bubble Wrap® Air Cellular Packaging, Jiffy® & Jiffy® TuffGard ® Mailers, Cell-Aire® Packaging Foam, Korrvu® Suspension & Retention Packaging, PriorityWrap® materials, all shrink film product lines, and consumable paper for all paper systems.
Sealed Air Corporation creates a world that feels, tastes and works better. In 2015, the Company generated revenue of approximately $7.0 billion by helping our customers achieve their sustainability goals in the face of today's biggest social and environmental challenges. Our portfolio of widely recognized brands, including Cryovac® brand food packaging solutions, Bubble Wrap® brand cushioning and Diversey® cleaning and hygiene solutions, enables a safer and less wasteful food supply chain, protects valuable goods shipped around the world, and improves health through clean environments. Sealed Air has approximately 23,000 employees who serve customers in 169 countries. To learn more, visit www.sealedair.com.
We routinely post important information for investors on our website, www.sealedair.com, in the "Investor Relations" section. We use this website as a means of disclosing material, non-public information and for complying with our disclosure obligations under Regulation FD. Accordingly, investors should monitor the Investor Relations section of our website, in addition to following our press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document.
Free Pulp & Paper News Email. Subscribe Now!