The company stated that since the second quarter of 2010 its raw materials (polyester staple fiber –PSF- and viscose staple fiber –VSF)) increased between 15 and 30% depending on the fiber type. It has now become clear to the market that these significant increases will be applicable at the start of 2011.
"Despite aggressive initiatives to improve our operational efficiencies and cost structure we are adapting our sales prices to this dramatic raw material cost evolution. This is driven by a global cotton shortage (moving textile spinners from cotton to polyester), strong demand in Emerging Markets and supply shortage in some key raw materials for the manufacturing of PSF and VSF" said Wim Warnier, CEO for VITA’s Nonwoven Division.
"The price increases are needed to continue our focus on superior customer service and quality excellence but also to support our numerous product development investments allowing our customers to grow their business."