Mannington to hike prices of selected resilient products 4% to 6%
The company attributed several factors to this increase, including market disruption of key raw materials, specifically the rising costs of PVC resins and plasticizers. Additionally, increases in both oil and natural gas have unfavorably impacted energy and transportation costs.
"After a thorough review of current market conditions, we have found that the economic impact is great enough to necessitate a price increase," said Kim Holm, Mannington's president of Residential Business.
"It's not something we take lightly," he added, "and we believe that our distributor and retail partners, as well as consumers, will continue to view Mannington resilient as a competitive product, and a good value."