Price increase for Buckman products could reach 20%
Leather chemicals manufacturer Buckman has said it will increase the price of all of its products by between 15% and 20%. The increases will apply from October 1, or as customer contracts allow.
Price increases will vary depending on geographic region, Buckman said, as well as on the solutions offered and markets served.
In some areas, increases may be higher, “where local conditions may necessitate additional adjustments”.
Explaining the reasons for the rise, Buckman said: “In the last 12 months, the chemical industry has experienced dramatic increases in global prices for primary feedstocks.
Throughout the year we have witnessed significant global supply chain disruption, strong global demand and multiple natural disasters in North America that have, and continue to, put extreme upward pressure on raw material prices. These unexpected external events have escalated costs imposing an unsustainable strain that can no longer be solely absorbed by the company.”
It said it would “drive operational excellence” throughout its operations with the goal of minimising cost increases.
