Bong increase prices to the market
Bong has decided to increase its prices to the market as a result of the continued increase in raw material prices. The majority of Bong’s price increases will come into effect during Q3 2021 and will be on both Envelope and Light packaging products.
Reason behind this is that most of Bong’s raw materials such as paper, window film, ink, adhesives, plastics etc. have recently seen drastic price increases. Especially drastic and still ongoing in the coming months are the large price increases on paper which were triggered by historically high pulp cost in combination with a strong reduction in available paper production capacity due to mill closures. Bong needs to compensate for this and to reflect the new situation and therefore increase its own prices for Envelopes and Light Packaging products.
Additional price increases might also be made in the future as raw material prices could continue to rise due to for instance low supply and logistics.
Bong is one of the leading providers of envelope products in Europe that also offers solutions for distribution and packaging of information, advertising materials and lightweight goods. Important growth areas in the Group are packaging within retail and e-commerce and the envelope market within Eastern Europe. The Group has annual sales of approximately SEK 1.8 billion and about 1,200 employees in 13 countries.
Bong has strong market positions in most of the important markets in Europe and the Group sees interesting possibilities for continued development. Bong is a public limited company and its shares are listed on Nasdaq Stockholm (Small Cap).
For further information, please contact Kai Steigleder, CEO for Bong AB. Tel (switchboard) 46 44-20 70 00