Increases in chemical and other costs have forced ProWood to hike its selling prices to consumers by 15% to 20%.
“Over that last several months we have absorbed broad increases in raw materials costs. We cannot continue to do so while maintaining our commitment to our stakeholders, including our customers, for long-term success. We strive to provide the best value in the market and know that even with these price increases we will be providing an excellent value for our customers.” Ryan Kemp, Executive Vice President of ProWood, stated.
These unprecedented measures reflect market hikes passed on by chemical suppliers, who cite global raw material shortages and instabilities, as well as rising energy, labor, and logistic costs, according to Kemp.
Proper price control will ensure that ProWood products are available indefinitely.
He stated that specific increases vary depending on geographic region, solutions given, and market(s) served.
