Business

Bubble Wrap maker Sealed Air raises prices, says ‘highly inflationary environment’ to continue

Sealed Air Corp., the maker of Bubble Wrap, Cryovac and different packaging and delivery merchandise for a number of industries, mentioned late Monday it should improve its costs by 5% to 10% in September attributable to rising enter prices and inflation.

“Our worth actions are a direct response to rising enter prices and the expectation that this extremely inflationary surroundings will proceed,” Sealed Air
SEE,
-0.78%

Chief Govt Ted Doheny mentioned in a press release.

The worth will increase will take impact on Sept. 15, the Charlotte, N.C., firm mentioned.

“We’re working relentlessly to ship ‘touchless’ automation and sustainable options to our clients that drive vital productiveness and financial savings in opposition to this disruptive provide surroundings,” Doheny mentioned.

The corporate’s inventory has gained 23% to date this yr, in contrast with features of round 17% for the S&P 500 index
SPX,
-0.18%
.

https://www.marketwatch.com/story/bubble-wrap-maker-sealed-air-raises-prices-says-highly-inflationary-environment-to-continue-11627940241?rss=1&siteid=rss | Bubble Wrap maker Sealed Air raises costs, says ‘extremely inflationary surroundings’ to proceed

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