Sealed Air To Hike Prices For Its Food Care Products - Quick Facts

(RTTNews) - Sealed Air Corp. (SEE) announced that it is increasing prices between 3% and 5% for the majority of its North American Food Care division products. The price hike will take effect from October 1.

Earlier, in August the company said it is increasing prices by 5 percent on select products in its Product Care division in North America.

"As we similarly announced for our Product Care Division in August, our price increases for Food Care division are in direct response to the continued escalation of our key raw materials and other input costs, in particular polyethylene and nylon, which all major petrochemical suppliers increased prices for on September 1. These new price increases from our suppliers are on top of significant increases announced earlier this year. Cumulatively, since January 2013 the PE suppliers have increased prices between 13-22%, which includes a 4-8% in early 2014," said Jerome A. Peribere, President and CEO, Sealed Air.