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Manufacturers Grapple With Rising Costs

By Associated Press
.

Raw materials around the country are getting more expensive. Manufacturers Grapple With Rising Costs
Published: Mon, July 14, 2008 - 1:27 am Last Updated: Mon, July 14, 2008 - 1:29 am
BIRMINGHAM, Ala. (AP) - Alabama and U.S. manufacturers are
facing some of the hardest conditions in years as the costs of raw
materials continue to rise.
The everyday raw materials that most people don't think about -
steel wire, lubricating oil, packaging - are getting more
expensive.
But it's not just that. There are a bevy of factors causing
strain, including: foreign competitors benefiting from strong
currencies and high prices for oil, cotton, coal and steel.
Cash-strapped executives are forced to look for ways to cut
costs and often those options include cutting jobs, decreasing
spending on new technology and reducing employee benefits.

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