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Energy price rise threatens plastics firms

MATERIALS

PLASTIC product manufacturers have warned many companies will go out of business unless they can pass on huge energy price increases.

A survey by the British Plastics Federation revealed that almost half of its members had been unable to pass on increased costs to customers.

Peter Davis, chief executive at the BPF, said that massive redundancies had been forecast across the sector, with manufacturing moving abroad.

He said: 'Recent energy increases, with more in the pipeline, are pushing the industry to the edge of a precipice.

'We are looking at over 7,000 job losses nationwide in the plastics industry.'