Packaging powerhouse Sealed Air Corp. has announced plans to increase prices up to 9% for most of its food packaging products.
According to the company, the higher price tags come courtesy of increases by major petrochemical suppliers in the market. For example, costs for polyethylene have soared 16% since December 2012.
Jerome A. Peribere, Sealed Air president/CEO, said the firm must pass on the higher costs to its customers but is trying to keep the pain to a minimum.
“The company is seeking to minimize the cost increases and their impact on our customers,” he said. “However, we need to offset them through a responsible price policy that enables us to continue to invest in service and innovation and serve our customers long term.”
Sealed Air offers a range of packaging products and materials for the food and personal care industries. Its offerings include Bubble Wrap protective packaging and Cryovac rollstock, laminate and pouches for food applications.