Sealed Air Hikes Price Of North American Food Care Products
Zacks Investment Research | Sep 25, 2017 09:19PM ET
Sealed Air Corporation (NYSE:SEE) has announced price increase for majority of its Food Care division’s North American products in the range of 5-8% to combat elevated costs for major petrochemical raw materials. The price hike will be effective from Oct 2.
According to Sealed Air, persistent spike in costs of key raw materials, including a 31% rise in the price of polyethylene since 2016, led to the price hike. Notably, the company has raised prices by 5% on all shrink bags, rollstock products, food films, and vertical pouch packaging. The company has also increased the prices for unpadded solid plastic trays by 6% and pre-padded solid plastic trays by 8%.
The most important raw materials utilized by Sealed Air are polyolefin and other petrochemical (PE)-based resins and films. These raw materials represented around one-third of consolidated cost of sales in 2016.
Sealed Air Corporation Price
Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.