News

Greiner Packaging International will increase its prices to help mitigate soaring raw materials, transport and energy costs.

The Austrian firm said it was left with no choice but to raise its prices, despite internal improvements in productivity.

"The price of polystyrene alone has gone up by 50% within the past four years," said chief executive Willi Eibner. He added there had also been increases in granulate and foil prices.

Greiner Packaging produces rigid plastic packs and lids for a variety of sectors including food, automotive and pharmaceuticals.

It has 21 production sites in Europe, including one in Northern Ireland, employing some 2,870 staff. It generated annual sales of €351.7m (£280m) in 2007.