Nylon Price Increase
Release date: February 2003
Title: NYLON PRICE INCREASE
Geneva, February 17th, 2003 - DuPont Textiles & Interiors (DTI) announced today it will increase prices for Nylon fibres in Europe and Asia, effective 15th March 2003. Increases will range from 5 to 10 % depending on yarn type and region.
Greg Vas Nunes, Vice President of Apparel, DTI Europe says: 'these increases are required to help offset the continuing cost increases of raw materials'. Although we have aggressively restructured our business to increase our competitiveness and absorbed earlier ingredient rises, these price increases in textile filaments are inevitable.
Raymond Palmen, Vice President of Nylon Flooring, DTI Europe adds: similar increases are unfortunately necessary in Flooring too due to the continued erosion of margins.
In the last few years we have massively restructured our business to improve our cost competitiveness. Unfortunately margins continue to erode with these severe raw material cost increases leaving us no other option than to announce this step.
Jeff Crudgington, Director of Nylon Intermediates, DTI Europe goes on to say: Petrochemical feedstocks used to produce Nylon polymers have climbed over 65% during the last 12 months'. These latest price increases in fibres clearly do not reflect the real rise in the cost of raw materials, which DTI is continuing to absorb in a large measure.
DuPont Textiles & Interiors business strategies and resources are committed to addressing key customer needs: delivering consumer and market value; optimizing supply chains; maintaining consumer loyalty; and building branded business.