MILLIKEN ANNOUNCES INCREASES: Milliken & Co. said it will increase prices by as much as 15 percent for all its products. Management cited "unprecedented increases" in the cost of raw materials, energy and transporting goods as reason for the move.
"Our initial and ongoing efforts to address these challenges have been focused on resisting increases, improving our productivity, and aggressively pursuing cost avoidance and savings opportunities," said Joe Salley, president and chief executive officer. "However, the speed and magnitude of recent cost escalations make it impossible for us to maintain our current pricing."
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