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Polymer Group, Inc. Announces Increased Prices in Response to Unprecedented Raw Material Cost Levels.
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PR Newswire
- Article date:
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July 2, 2008
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Copyright informationCOPYRIGHT 2008 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CHARLOTTE, N.C., July 2 /PRNewswire-FirstCall/ -- Polymer Group, Inc. (OTC Bulletin Board: POLGA; POLGB) ("PGI") announced that it will begin implementing additional price increases on a global basis in response to increases in raw material costs that continue to reach unprecedented levels.
Price increases of petroleum-based products from suppliers to PGI have risen in excess of 20 percent since March of 2008 and are expected to continue to increase significantly in the coming months, primarily driven by the continued high cost of oil. Additionally, certain suppliers have declared force majeure and are increasing prices as a result of higher energy and transportation ...
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