In making the announcement, Pregis President and CEO Kevin Baudhuin pointed to a double-digit percentage increase for polyethylene resin, in addition to increases in transportation, fuel, energy and labor costs.
“Despite our diligent efforts to maximize our manufacturing and logistics efficiencies, these increases have been fully absorbed by Pregis up until now. With an additional resin increase going into effect in February and a proposed increase in March, Pregis must implement a price adjustment to recover some of these costs and prevent additional margin erosion,” Baudhuin said.
Products affected by the price increase include air cushioning, polyethylene foam, Microfoam® polypropylene foam, AirSpeed® inflatable packaging systems and select specialty items.
Pregis LLC is a leading provider of innovative protective packaging materials, equipment systems and surface protection. The company offers solutions for a wide variety of consumer and industrial market segments including food, beverage, healthcare, medical devices, agricultural, e-commerce, retail, automotive, furniture, electronics, metals, construction and military/aerospace. For more information: www.pregis.com.