Rising raw materials costs lead to Buckman price hike
Leather chemicals producer Buckman is to increase the prices of its products by between 8% and 25% with immediate effect.
It said recent increases in the price of raw materials, in addition to rising energy, transportation, labour, and regulatory costs, have brought “an unsustainable strain that can no longer be completely absorbed by the company”.
In addition, it said that market projections predict continued rising costs of upstream feedstock and that, if these projections prove accurate, they could warrant additional pricing action.
Price increases will vary depending on geographic region and products and services sold. In some areas, increases may be higher where local conditions may necessitate additional adjustments.
Buckman said it would “continue to strive to add value to customer operations” by investing in innovative technology and optimising operations around the world to offer “the highest-value products and services at the lowest possible costs”.
