Mannington ups prices by 4-6%,<br>Cites "Impact of this devastating disaster"

Citing the impact of Hurricane Katrina on "an already difficult scene of rising fuel, energy and raw material costs," Mannington Mills said it will institute a 4 to 6 percent price increase across both residential and commercial resilient product lines. The increase is set to take effect beginning October 17.

In a statement, Mannington's President and CEO, Tom Davis said the company is now compelled to pass along its increased operating costs. "The impact of this devastating disaster is being felt immediately throughout our entire organization. Currently, we are absorbing increased costs in fuels used to operate our plants, inbound and outbound transportation, and key raw material components. Although increases have impacted the industry in virtually every product category, flooring continues to show strength and remains an excellent consumer value. We remain optimistic about the future of the economy as well as that of our industry."