Eastman Kodak Company today announced that it will increase prices on a select range of consumable products across its businesses on a worldwide basis.
Prices will increase as much as 20%, depending on product line and geography. The increases are a result of the soaring prices of key raw materials, especially silver and aluminum, as well as the rising cost of petroleum.
Kodak previously noted the impact of these raw material costs during a conference call with investors following announcement of its first-quarter results on May 1. The price increases will help alleviate some of the impact of rising raw materials costs.
The increases will be rolled out by product group and geography in the coming weeks and the company expects them to be implemented by July 1.
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