We have – over the course of our company’s history – taken a very conservative approach to price increases, having had only one upward adjustment in ten years. That is, prior to this year. The present environment makes avoiding another upward adjustment impossible. Costs for the steel that we integrate into our core products is between 2.5x and 3x what it was in 2020, and upward pressures on cost variables beyond raw materials (such as labor and transportation) are having substantial adverse impacts on similar industries worldwide.
We understand that certain building material component manufactures are increasing prices for the second time this year by double digit percentages. We think that is a little bit opportunistic, and hope that some of the inflationary pressures we are all facing are temporary. Accordingly, we will absorb some of the increased costs, but must pass on an upward pricing adjustment of 10% on all products. This change will be effective on all orders placed on or after September 1, 2021.
Despite this increase, we feel strongly that our products are priced very competitively relative to our competition.
We will do our best to accommodate bulk orders in anticipation of the pricing change. Please note that to maintain reasonable lead times for you and other customers, we may only be able to accept orders at your current pricing which are consistent with your normal ordering history.
Your new price list will be shared with you by your QuickTie contact. If you have questions, please contact us at (904) 281-0525. We look forward to a future supply-chain environment that is not so burdensome on us all! As always, we truly appreciate your business, and look forward to continuing mutual success.