Due to limited capacity and high demand there have been continued shortages, tight supply and persistent cost increases for key raw materials across our portfolio. In addition, inflationary pressure has increased the cost of energy and labor. As a result we are forced to increase our prices across the Liquid Resins and Additives portfolio in North America.
The increase will be dependent on product group and will be applicable on all shipments after December 6, 2021, or as contracts allow.
In addition, Global supply chains continue to be stressed leading to rapid cost increases across all modes of transportation. A modification to our existing freight surcharge will also become effective December 6, 2021, or as contracts allow to offset the rising costs of freight and packaging.
The LRA team remains committed to maintaining customer service levels and communicating to customers in order to prevent shutdowns. We appreciate your understanding during these uncertain times.
Please contact your allnex Account Manager if you have any questions or concerns.
LRA Product Line Manager, Americas