Sealy Announces Price Increases Across Domestic Product Lines
To Offset Unprecedented Cost Increases of Polyurethane Foam and Other
ARCHDALE, N.C., Oct. 20 /PRNewswire/ -- Sealy announced today that it will raise prices across all its domestic product lines to offset rising costs of raw materials used in the manufacture of its bedding products. The industry has seen unprecedented cost increases in polyurethane foam as well as price hikes in fuel and other petroleum-based commodities as a result of this season's hurricane disasters. Polyurethane foam is one of the primary materials used in mattress construction. The price increases will vary by product line and mattress size and are scheduled to take effect November 14. "We've turned the corner on the supply chain issues relating to the shortage of TDI. Now, we're focused on working as thoughtfully as possible to help our retailers manage the impact of these costs on their businesses," said Dave McIlquham, chairman and chief executive officer of Sealy. Working with customers and Sealy's international supply chain, Sealy has been able to increase its total supply of foam to meet forecasted customer demand. Sealy, Inc. Sealy is the largest bedding manufacturer in the world, and is the leading bedding company in North America. Including its subsidiaries, Sealy has 30 manufacturing plants in the United States, Canada, France, Italy, Brazil, Argentina and Mexico. There are a total of 12 international licensees operating in Spain, Portugal, Australia, Israel, Jamaica, Dominican Republic, Saudi Arabia, Japan, New Zealand, Thailand, South Africa, the Bahamas and the United Kingdom. In addition to its licensees, Sealy has a joint venture in Southeast Asia and Korea. Sealy produces and sells a full range of mattresses under the Sealy, Sealy Posturepedic(R), Stearns & Foster and Bassett brand names. Sealy-branded licensed products include: crib mattresses, sheets, pillows, mattress pads and comforters, office chairs, futons and sleep sofas. For more information on Sealy, Inc. visit http://www.sealy.com. Contacts: Grayson Dixon 336.774.9226 firstname.lastname@example.org Maria Mayer 336.774.9225 email@example.com
SOURCE Sealy, Inc.
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