Milliken Raising Prices Up to 15 Percent

Spartanburg, SC, July 7, 2008 – Milliken & Company is raising prices up to 15 percent for all of its products and services effective immediately.

The company cited unprecedented increases in raw materials, energy, freight, and other costs.

“Our initial and ongoing efforts to address these challenges have been focused on resisting increases, improving our productivity, and aggressively pursuing cost avoidance and savings opportunities," said CEO Joe Salley.

"However, the speed and magnitude of recent cost escalations make it impossible for us to maintain our current pricing.”