New Jersey's Sigma Stretch Film to raise prices by 10% on all products due to rising resin costs
Liling Tan
LOS ANGELES
,
February 2, 2010
(IndustryIntel)
–
Sigma Stretch Film has announced it will raise prices by 10% on all products for orders received on or after Feb. 22 due to rising resin costs, according to a letter sent to customers on Feb. 2.
The Lyndhurst, New Jersey-based stretch film maker said its polyethylene suppliers were implementing a total US$0.08/lb. hike that went into effect Feb. 1, which prompted the company to announce its 10% increase.
Sigma added it will provide an update on Feb. 22 once it is known if the full $0.08/lb. hike is fully implemented by its resin suppliers.
Resin suppliers have also announced another $0.06/lb. increase for March 1, which could prompt further price hikes, the company said.
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