By Rob Cockerill2011-01-10T12:08:00+00:00
New Jersey-based Cavagna North America, Inc. has announced a price increase for all its brass- and zinc-based products from February (2011) onward.
The company attributes the increase to ‘unprecedented market increases in copper and zinc’.
Cavagna North America, which is a subsidiary of the Italian company, Cavagna Group s.p.a., and is a leading supplier of equipment and fittings for compressed gas storage and control, explained that its prices will be rising by 5-8%, effective 1st February.
David S. Ellis, Vice-President of Sales and Marketing for Cavagna North America, described the unsustainable market influence and said, “Unprecedented market increases in copper and zinc, the two main components of brass, continue to impact our direct costs. Copper has increased nearly 60% in the past six months and zinc is up over 30% in the same period. Despite our continued efforts to contain costs in our manufacturing facilities, this unsustainable market influence cannot be outpaced by efficiencies.”
Cavagna Group Asia Ltd has become the youngest of Cavagna’s manufacturing facilities worldwide, with the recent launch of a new production site just one hour from Bangkok, Thailand.
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