Portuguese paper producer Navigator to raise prices by 6-9% in Europe

LISBON, April 9 (Reuters) - Portugal’s pulp and paper producer Navigator will raise paper prices in Europe by between 6% and 9% from May 10, the company said on Friday.

The company, which sells its products in 130 countries across five continents, said the price increase took into account higher costs worldwide for pulp, chemicals and logistics, but also a “robust demand” for Navigator’s products and brands late last year and in the first months of 2021”.

“The company will continue to tightly monitor the market...and act, if required, to correct potential future imbalances between its products prices, raw materials and logistics costs”, it said in a statement.

Navigator shares were up 0.07% at 2.84 euros at 1120 GMT.

The company reported a 64% jump in fourth-quarter net profit in January, showing resilience in the face of new lockdown measures imposed in some European markets due to the coronavirus pandemic.

Reporting by Sergio Goncalves, Editing by Victoria Waldersee, Kirsten Donovan