Raw material suppliers announced Intercol today that they will implement a surcharge between 10% to 20% on shipments of raw materials effective September 1, 2021, in addition to other communicated price increases. Unlike previous price increases, this surcharge is expected to be permanent.
This price increase is driven by continued short supply and cost escalations of chemicals and plastics. Furthermore supply for logistics, freight, packaging, labor and many other items have seen cost increases in the last months. We understand the need of our customers to produce diverse products from FMCG and hygiene products, to electronics and automotive parts.
We have been confronted with these price increases that will be implemented immediately.