Schweitzer-Mauduit to Hike Prices in the Americas
June 13, 2008 - Schweitzer-Mauduit International today announced price increases for paper products sold in North, Central and South America, effective in July 2008.
The announced selling price increases will approach 20 percent, the company said.
These price increases are necessary to partially recover significant acceleration in costs caused by the combination of higher purchase prices for wood pulp, energy, chemicals and transportation along with the negative cost impact of currency, Schweitzer-Mauduit said in a statement.
The increases will apply to customers that do not have long-term contracts, and Schweitzer-Mauduit will continue to honor all existing long-term contracts, which contain specific terms regarding price revisions, the statement said.
Schweitzer-Mauduit International, Inc. produces premium specialty papers and is the world's largest supplier of fine papers to the tobacco industry.
SOURCE: Schweitzer-Mauduit International, Inc.