Sealed Air Corporation (NYSE:SEE) announced today that it is implementing a price increase on all products in its North American Product Care division. The increases will be effective September 1, 2017.
The price adjustments are the result of escalation in resin costs of over 7% since the start of the year with over 9% of additional increases expected to be announced in the near term. Other raw materials costs have also been on the rise including chemical components (MDI/Polyol) which are up 15% since the start of 2017, and recycled paper and corrugated up with Old Corrugated Container (OCC) costs climbing more than 50% year-to-date with further increases expected.
A 9% price increase will be applied to the following paper-based products: consumable paper for all Sealed Air paper systems, Custom Wrap™ Converted Paper, Kushion Kraft® Converted Paper, PriorityWrap® Rigid Board and macerated pads.
A 6% price increase will be applied to the following paper-based products: Jiffylite® Kraft Bubble Mailers, Jiffy® Utility Mailers, Jiffy® Padded Envelopes, Jiffy Rigi Bag® Envelopes, and Korrvu® Suspension and Retention packaging.
A 6% increase will be applied to these additional products: BubbleWrap® IB Film, BubbleWrap® Brand Products, Cell-Aire® Packaging Foam and Laminate Products, Fill-Air® Inflatables Film, FloWrap® Film, Instapak® Film, Instapak Quick®, Instapak Simple® Foam Components, Instapak® Dispenser Solution, Jiffy® TuffGard® Mailers, Jiffy® ShurTuff® Mailers, NewAir I.B.® Film, PriorityWrap® Bubble, Rapid Fill® Automated Bags, Shrink Films, Speciality Foams, and Wonderfil® Film.
Instapak® Chemicals will increase by $0.09 per pound and is also effective on September 1, 2017.
http://ir.sealedair.com/phoenix.zhtml?c=104693&p=irol-newsArticle&ID=2290813