Wellman Inc is to raise the price of all Fortrel polyester staple fibre products by US$0.04 per pound from 15 April.

The company blamed the rising price of crude oil for its decision, saying it has place "continued upward pricing pressure on our chemical-based raw material and energy costs."

Steve Ates, vice president sales and marketing, said: "This price increase is necessary to offset some of these escalating costs."

Wellman last month filed for Chapter 11 bankruptcy protection after struggling against rising raw material costs and high levels of debt.