Sealed Air Announces Price Increase for Food Care Products in Europe, Middle East and Africa

Sealed Air Corporation (NYSE: SEE) announced today that it is implementing a price increase of 2.5 – 5.0% for the majority of its Food Care division’s products in Europe, Middle East and Africa with the exception of Switzerland and the United Kingdom who received price increases earlier in the year. The increase will be effective January 1, 2018.

“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.
http://ir.sealedair.com/phoenix.zhtml?c=104693&p=irol-newsArticle&ID=2321067

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