Armacell increases prices for its PET foam product range
Thimister-Clermont, 8 January 2018 - Armacell, a global leader in flexible foam for the equipment insulation market and a leading provider of engineered foams, announced a global price increase of 5% for its entire PET foam product portfolio, from Februray 1, 2018.
The background of this recent announcement was primarily fuelled by increases in the costs of key raw materials and to a lesser extent by rising energy costs at the group’s PET foam manufacturing facilities in Belgium and Canada.
“During the past year, price increases in the commodity market have led to a significant rise in our raw material costs. We have had to cope with a 20% price increase for one of the key additives in our ArmaForm formula,” says Thomas Kessel, Managing Director PET Foams. “Our basic feedstocks, MEG and PX, have risen by 5% percent in recent months.”
As Bart Janssen, Vice President Engineered Foams of the Armacell Group, explains: “Our response to changing market conditions enables us to continue providing innovative PET products of the customary high quality and delivering industry-leading support with its added value for our customers.”
Belinda Janson Marketing & Communication PET Foams
Tel.: +32 87 325070