BPI suppliers push raw materials prices up
In a trading update today (22 December) British Polythene Industries (BPI) said its 2010 sales and profit expectations were on target but it was under pressure on input costs from suppliers.
The Greenock, Scotland-based manufacturer is one of the largest producers of polythene film products worldwide, providing a wide variety of materials with applications from agriculture to supermarket packaging.
With trading having remained consistent since its previous report last month, the company said it therefore expected "results for the year to be within the range of current market expectations."
However, it went on: "Raw material costs and availability continue to be an issue and our suppliers are seeking further increases for January".
BPI added that it had agreed new banking facilities and now enjoyed "total facilities including asset finance and overdrafts remain in excess of £100 million".
