"Unprecedented" polymer costs trigger BPI price increase
British Polythene Industries, Europe’s largest PE film maker, is to raise prices on all UK products by up to £100 a tonne, in a move spurred by the latest increase in polymer costs.
Further rises in polymer costs have recently been announced by a number of producers, said BPI, after a year of “unrelenting increases in the cost of polymer.”
The rise, coupled with the effects of sterling’s weakness against the Euro, have taken material costs to unprecedented levels. At the same time, BPI points out, it is experiencing additional rises in other oil related costs such as energy and transport.
BPI chief executive, John Langlands, said: “We operate in a focused and cost effective manner but we cannot absorb this level of price increases. Our commercial teams will communicate directly with our customer base on the increases.”
The group has already highlighted the challenging trading conditions it is facing and noted before Christmas that results for both November and December were, “well below our expectations.” Its preliminary results will be published on March 3.
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Source: PRW.com
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