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Tour of Clinton Manufacturer Highlights Impact of Energy Costs

The Greenville News
Published: August 21, 2008
By Greenville News Staff Writer
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Tour of Clinton Manufacturer Highlights Impact of Energy Costs

CLINTON -- US Congressman Gresham Barrett toured the manufacturing facility of Aaron Industries, Inc. with Jim Medford, the company’s President and CEO, today.

The Congressman continues to maintain a comprehensive understanding of the impact high energy costs are having in our region. The energy costs are impacting households directly in the form of gas prices and utility costs. Additionally, as at Aaron Industries, the high cost of energy is impacting our regions business community. In addition to higher utilities, companies like Aaron are experiencing significantly higher raw material costs due to their relationship to feed-stocks such as crude oil and corn. These increased raw material costs, lead to higher prices in every retail store. Congressman Barrett recognizes the pain these increased costs have inflicted on all of America, both consumers and corporation.

Aaron Industries, Inc. is a manufacturer of over the counter pharmaceuticals, including first aid products such as isopropyl alcohol, hydrogen peroxide, as well as a variety of private label (store brand), liquid cough cold and antacid products and sells these products to more than 90% of America’s retailers (large and small).

“As a result of energy cost increases, the Company has seen its raw material costs increase in some cases nearly 100%," Medford said. "These type of increases cannot be absorbed by improvements to manufacturing efficiency. These are the types of increases that we have no choice but to pass along to our customers. The retailers are in a similar boat, they have no choice but to pass it along to America’s consumers. This is why we had such a significant impact in consumer prices over the last few months. I am thankful for Congressman Barrett’s leadership in representing our area by seeking to lead our nation by reducing our energy dependence in the future by supporting legislation to increase the supply of American made energy on the house floor.”