Aptar Announces Price Increases
AptarGroup, Inc. (NYSE:ATR) announced a 5% price increase for its beauty, personal care, and home care products, effective June 1, 2021. This decision responds to sustained cost inflation on non-raw material inputs, including freight, energy, and labor. Marc Prieur, President of Aptar Beauty + Home, emphasized the necessity of these adjustments due to unprecedented cost increases and efforts to ensure safe production amid the COVID-19 pandemic. Sales representatives will provide customers with more details on the price changes.
- Aptar is implementing a 5% price increase to combat rising input costs.
- The company continues to focus on efficiency in production and distribution.
- The decision reflects sustained significant cost inflation affecting profitability.
- The increase may lead to reduced consumer demand for Aptar's products due to higher prices.
AptarGroup, Inc. (NYSE:ATR), a global leader in drug delivery, consumer product dispensing and active material science solutions, announced today that it will increase prices five percent for its beauty, personal care and home care products. The price increases will take effect June 1, 2021 and will be in addition to any price adjustments related to raw material cost increases. The price adjustments are necessary due to sustained significant cost inflation on non-raw material input costs including freight, energy and labor.
“While Aptar Beauty + Home has continuously implemented innovative solutions to increase efficiency in our production and distribution process with the aim of delivering high quality products at competitive prices, price adjustments are necessary as we are facing unprecedented cost increases across all input channels. This is on top of absorbing the costs of keeping our production teams safe and operating our facilities safely throughout the global COVID-19 pandemic,” said Marc Prieur, President, Aptar Beauty + Home.
Aptar sales representatives will communicate additional details of the price increase and the specific impacts to their customers directly.
About Aptar
AptarGroup, Inc., is a global leader in the design and manufacturing of a broad range of drug delivery, consumer product dispensing and active material science solutions. Aptar’s innovative solutions and services serve a variety of end markets including pharmaceutical, beauty, personal care, home, food and beverage. Using insights, proprietary design, engineering and science to create dispensing, dosing and protective technologies for many of the world’s leading brands, Aptar in turn makes a meaningful difference in the lives, looks, health and homes of millions of patients and consumers around the world. Aptar is headquartered in Crystal Lake, Illinois and has 13,000 dedicated employees in 20 countries. For more information, visit www.aptar.com.
This press release contains forward-looking statements. Expressions or future or conditional verbs such as “will” are intended to identify such forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are based on our beliefs as well as assumptions made by and information currently available to us. Accordingly, our actual results may differ materially from those expressed or implied in such forward-looking statements due to known or unknown risks and uncertainties that exist in our operations and business environment including, but not limited to: the successful integration of acquisitions; the regulatory environment; and competition, including technological advances. For additional information on these and other risks and uncertainties, please see our filings with the Securities and Exchange Commission, including the discussion under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Form 10-Ks and Form 10-Qs. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
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