Freudenberg Performance Materials announces price adjustments, driven by raw materials cost increases
WEINHEIM, Germany, October 5, 2018-
Since the beginning of this year, prices of raw materials for the production of technical textiles have risen by more than 20 percent. Recently, this trend has even accelerated. As a result, Freudenberg Performance Materials is no longer able to fully compensate for this development on its own. Accordingly, with the aim of continuing to offer customers innovative and high-performance products and services, the company will need to adjust its prices this year.
“Freudenberg Performance Materials is continuously working to improve productivity and efficiency so as to proactively compensate for cost increases. 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. Shortly, we will therefore enter into discussions with our customers with a view to jointly finding solutions that are suitable for both sides. We ask our customers for understanding regarding this necessary measure”, explained Dr. Frank Heislitz, CEO of Freudenberg Performance Materials.
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