Milliken Imposes Broad Price Increase
Quinn Halford -- Home Textiles Today, July 14, 2008
Textile, carpet and chemical manufacturer Milliken & Co. last week put into effect an across-the-board set of price increases of up to 15% on all products and services.
The company cited "unprecedented increases in raw materials, energy, freight, and other costs."
"Our initial and ongoing efforts to address these challenges have been focused on resisting increases, improving our productivity, and aggressively pursuing cost avoidance and savings opportunities. However, the speed and magnitude of recent cost escalations make it impossible for us to maintain our current pricing," said Joe Salley, president and ceo.
Milliken said the past year has seen an acceleration of long-term commodity price inflation.