Raw material costs prompt price increase from Freudenberg
08/10/2018
In its announcement, the company said raw material prices have increased by more than 20% since the start of 2018, and that the increase is accelerating.
“Freudenberg Performance Materials is continuously working to improve productivity and efficiency so as to proactively compensate for cost increases,” said Dr Frank Heislitz, CEO of Freudenberg. “Despite all internal efforts at all our sites, we are unfortunately no longer able to absorb the effects of the strong and sustained increase in raw material costs this year.”
He added that Freudenberg will now enter into discussions with its customers “with a view to jointly finding solutions that are suitable for both sides”. He also asked customers for understanding as the company goes forward with this “necessary measure”.
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