Bostik 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.
Top 5 News that Sticks for May 13-19
1. Bostik Announces Price Increases (#1 last week)