Freudenberg Performance Materials announces price adjustments
Weinheim, October 05, 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.
The company will closely monitor the development of raw material costs and will review the situation together with its customers in 2019.
About Freudenberg Performance Materials
Freudenberg Performance Materials is a leading global manufacturer of innovative technical textiles offering differentiated value propositions to a broad range of markets and applications such as Apparel, Automotive, Building Interiors, Construction, Energy, Hygiene, Medical, Shoe and Leather goods as well as Specialties. In 2017, the company generates sales of more than €935 million and has 25 manufacturing sites in 14 countries and more than 3.700 employees. Freudenberg Performance Materials attaches great importance to social and ecological responsibility. For more information, please visit www.freudenberg-pm.com
The company is a Business Group of Freudenberg Group. In 2017, the Freudenberg Group employed approximately 48,000 people in some 60 countries worldwide and generated sales of more than €9.3 billion. For more information, please visit www.freudenberg.com
Contact InformationURL: www.freudenberg-pm.com
Company: Freudenberg Performance Materials