Fibertex Nonwovens announces price increases
Fibertex announces a general price increase to be effective January 2022, due to unforeseen negative impacts caused by significant increases in raw materials, energy and freight, accompanied by extreme volatility in demand patterns and supply chain disruptions.
Developments in these costs have increased beyond the worst expectations, and are all expected to remain at these elevated levels for the rest of the year and well into 2022. The current forecasts indicate a strong possibility that they may climb even higher. Historical high raw materials and other costs, as well as the recent surging and persistently high costs of energy and freight, have created significant challenges for both Fibertex and our customers.
The Company can no longer continue to absorb these increases, and as they are expected to persist, Fibertex will be adjusting sales prices by 12-20% depending on product type and composition with effect from January 2022.
Fibertex continues to work on measures to improve our productivity, strive to keep and secure competitive prices, and we continue to take measures to avoid further increases where possible. In addition, we will leverage our global scale to optimise costs and respond to future changes in demand patterns, in order to continue to meet our customers’ expectations of reliable deliveries and excellent service.