The ongoing COVID-19 pandemic continues to create challenges throughout the world economy. Many industries, including ours, are being disrupted by the rising costs of commodity materials such as aluminum, wood, and steel.
We have been notified by our raw material suppliers of price increases caused by several factors including an increase in the price of raw materials, capacity constraints, but also in- and outbound freight. Additionally, import tariffs on our US-made hardboard and MDF products have increased from 2,5% to respectively 6,5% and 7%.
Since the start of the year, we have watched costs closely to monitor and project long-term or short-term impacts. We are no longer able to absorb the increased costs and it is necessary to pass along the material cost increase. We will continue to leverage our supplier relationships to maintain the best costs available.
Prices will increase as follows – in average:
Through these challenging times, we remain committed to our relationship and providing competitive costs. We will continue to monitor costs quarterly and adjust appropriately.
Our pricing has been adjusted on these items in various percentages and updated in the price list for ChromaLuxe and Unisub. The adapted prices go into effect starting July 8, 2021. The sales representatives will contact their customers to discuss the details and provide the necessary support.
The Universal Woods team thanks everyone for their understanding and cooperation.