Polymer Group Inc declares price rises

Polymer Group, Inc. (OTC Bulletin Board: POLGA; POLGB) announced today that prices of its nonwoven roll goods in North America will increase 5 to 7 percent, depending on the specific products, due to sustained high levels of raw material and energy costs.

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The increases, effective Oct. 1, will primarily apply to products with petroleum-based raw materials including polyester, polypropylene and polyethylene. Outside of North America, the company is implementing price increases on polypropylene-based products, with the amount of the price impact dependent on specific regional factors.

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"The raw material markets have continued to remain at elevated levels through 2006," said James Schaeffer, PGI chief executive officer. "While certain petroleum prices, like crude oil, have shown some recent abatement, tight supply in our primary raw material markets has kept prices high. Costs of certain of our primary raw materials have increased in excess of 15 to 20 percent year-over-year. Additionally, electricity costs are 5 to 8 percent higher than the same time last year."



"We continue to focus on making our global manufacturing operations as efficient as possible; however, these price increases are necessary to ensure our customers continue to receive the best total value in the industry," Schaeffer added.

Polymer Group, Inc, one of the world's leading producers of nonwovens, is a global, technology-driven developer, producer and marketer of engineered materials. With the broadest range of process technologies in the nonwovens industry, PGI is a global supplier to leading consumer and industrial product manufacturers. The company operates 22 manufacturing facilities in 10 countries throughout the world.

Source : Polymer Group, Inc