Bostik announces price increase
From 1 January 2019, Bostik will be adjusting prices across its businesses. Prices are raised by an average of 8 percent. In individual product categories, such as silicone sealants, the price increases are between 10 percent and 20 percent compared to the previous year. The company has faced significant cost increases in nearly all commodities in recent months. “We are constantly receiving reports of shortages and price increases for essential feedstock products of around 20 to 55 percent. Over the past 18 months, our global purchasing operations have coped successfully with 60 supply bottlenecks caused by Force Majeure for our customers, “said Olaf Memmen, Managing Director of Bostik. The strained raw material procurement situation would lead to significantly increased costs in the logistics sector, as well as the shortage of loading and transport space. Coupled with the cost inflation on wages, energy, packaging and regulatory costs (CLP, REACH), total manufacturing costs have now reached a significantly higher level in the long term. “We are certain that our customers will understand this measure because of the well-known sustained increase in prices for building chemicals and for our high-quality products,” says Memmen.
Managing director Olaf Memmen. Foto: Bostik