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Wellman to hike prices

Wellman Inc. announced on Friday that it will increase the price of its polyester staple fiber products by 12 percent to 14 percent.

It last increased prices, by $0.05 a pound, on April 29, 2002.

The company, which makes Fortrel polyester textile fibers , gave an increase in raw material costs as the reason for the price hike.

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