Bong UK and Bong Ireland business unit president Sue Hale said the company had suffered from a dramatic decline in pricing levels over the past two years.
There had also been an overall decrease in demand for envelopes within Europe, she added. Bong had implemented group-wide cost-saving actions but these had failed to compensate for the erosion of margins.
Hale hoped the price increase would be sustainable. If its not I dont know what the alternatives will be, she said.
Bong UK employs 163 staff at its Milton Keynes base, and a further 48 staff at its Ireland base.
The company has manufacturing plants in 11 countries and an annual capacity of 15bn envelopes. It employs 1,500 staff worldwide and has a turnover of around 163m (SEK2.1bn).
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Unencumbered assets that weren't on the Reflections books, I believe.
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Jo"
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