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.