Bostik recently announced it will increase prices on U.S. industrial product orders with a requested delivery date of May 1 or later. Recently, the adhesives industry has experienced increasing tightness in material availability and elevated costs due to compounding circumstances in the supply chain. Hurricane Harvey’s impact in particular has reportedly triggered rising feedstock and logistics costs as the U.S. supply chain continues to reset itself. In addition, with strong business growth worldwide increasing material demand and supplier manufacturing issues resulting in numerous force majeure events, raw material tightness has further accelerated.
Despite the company’s best efforts, Bostik will reportedly need to implement price increases on orders moving forward.
“Given the current situation, Bostik wants to assure customers of our commitment to provide them with the highest quality products, technical expertise and dedicated customer service,” said Bob Marquette, Americas senior vice president. “As raw material prices rise, we also will keep doing our best to minimize the impact on them as much as possible.”
For more information, visit www.bostik.com.