RICHMOND, Va. (July 18) — Performance Fibers Inc., an affiliate of Sun Capital Partners Inc., will raise prices on its polyester high-tenacity industrial fibers in the Americas by 10 percent effective Aug. 17.
The firm said the hike is to offset increasing raw materials, transportation and energy costs that continue to impact the polyester fiber business.
President and CEO Greg Rogowski said the company is working with suppliers to optimize materials sourcing and also is putting more emphasis on productivity initiatives.
The fibers are used in a wide range of consumer and industrial applications, including tire cord and hose and belting reinforcement.