Arlington Heights, Illinois -- ThermoSafe Brands, a business unit of Sonoco, has said it will raise prices by 4 -7 percent across most of its product portfolio, effective 5 March 2012. This price increase will affect all polyurethane (PU and expanded polystyrene (EPS) parts, including custom and catalogued shipper solutions and components globally.
The price increase is necessary to cover rising costs in raw materials, labour, energy and transportation. "At ThermoSafe, we continually invest in our operations, technology, people and infrastructure to ensure we offer industry leading solutions, products and services at competitive prices," said Mary Kate Phillips, director of North American Sales, in a company announcement.
"Despite our efforts to offset cost increases through Lean initiatives, we reached a point where we must raise prices to offset the ongoing inflation in our costs."
ThermoSafe Brands says it the largest manufacturer of temperature-assurance packaging and the leading provider of thermal testing solutions for life-sciences customers.