Benzinga | Mar 25, 2021 08:03AM EDT

Lydall Performance Materials Announces Price Increase For Filtration, Specialty Insulation Products

Lydall, Inc. (NYSE:LDL) announced today that its Performance Materials business segment is increasing prices for its Filtration and Specialty Insulation products supplied globally. The price adjustment is driven by significant and ongoing increases in key raw material and freight costs.



"Lydall remains committed to reducing overall costs and making our operations more efficient through our One Lydall strategy and focused transformation initiatives," said Lydall Performance Materials President Ashish Diwanji. "However, these extensive efforts are not enough to offset the sustained inflationary pressures that are widespread in today's market. We must modify our pricing to ensure that we can continue to deliver the innovative products and high-quality, advanced materials our customers depend on to bring the world's most essential products to market."

Account representatives are communicating specific details directly to impacted customers, with timing of the increases subject to the terms of applicable agreements.