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5th October 2018, Weinheim

Freudenberg Performance Materials adjusts prices

Freudenberg Performance Materials has announced plans to adjust its prices this year.Since the beginning of this year, prices of raw materials for the production of technical textiles have risen by more than 20%. Recently, this trend has even accelerated. As a result, Freudenberg Performance Materials has announced plans to adjust its prices this year in order to fully compensate for this development.

“Freudenberg Performance Materials is continuously working to improve productivity and efficiency so as to proactively compensate for cost increases,” explained Dr Frank Heislitz, CEO of Freudenberg Performance Materials.

“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.”

The company says it will closely monitor the development of raw material costs and will review the situation together with its customers in 2019.

Freudenberg Performance Materials is a leading manufacturer of innovative technical textiles offering value 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 generated sales of more than EUR 935 million and has 25 manufacturing sites in 14 countries and more than 3,700 employees.

www.freudenberg-pm.com

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