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RISING RAW MATERIAL & SUPPLIER COSTS DRIVE SEAMAN CORP TO INCREASE PRICES from Seaman Corporation
WOOSTER, Ohio (April 6, 2011) – Seaman Corporation has announced that, despite company-wide efforts to offset continuing increases in raw material costs and other supply chain expenses, the company will be increasing costs of virtually all of their products by 3 percent to 12 percent. The price increase is effective May 1, 2011.
“Our continued commitment to Lean Manufacturing and manufacturing equipment investments has allowed us to offset and absorb most of the increases,” said Alex Williamson and John Crum, Co-Presidents of Seaman Corporation. “However, there are many global and domestic factors that are making it difficult to continue our current pricing. While the cost of crude oil does have an impact on pricing, other factors dominate, including”:
- Increased global demand for polyester yarn due to cotton shortages
- A general shortage of raw material supply due to growing global demand and consolidation within the chemical industry
- Shifts in global raw material feed stocks
- Volatility of crude oil futures
- Freight cost increases
- Overall energy cost increases
With manufacturing in Wooster, Ohio, and Bristol, Tennessee, the family-owned Seaman Corporation has been an innovator in the development of high performance industrial fabrics, sold globally in many markets, for over 60 years. Among the company’s products are FiberTite® roofing systems, Shelter-Rite® truck tarp and architectural fabrics, XR® Technology geomembranes and specialized fabrics designed for military structures and fuel tanks, the marine industry and other markets.
For more information, visit Seaman Corporation’s website at www.seamancorp.com or call (800) 927-8578.