Energy, Transportation, and component parts cost trigger a 5% rise in Taylor Wharton technologies.
From April 15th there will be a 5% increase in acetylene cylinders, high-pressure cylinders, cryogenic bulk tanks and portable liquid cylinders. The price hike is said to be due to increased production costs.
Explaining the reasons for the rise in prices, Scott W. Boyd, Vice President of Sales and Marketing said, “Sustained escalation of energy and component parts costs continue to exert upward pressure on our pricing structure. Protracted global increases for oil and other fossil fuel commodities have had a persistent impact on manufacturing costs for all our product lines.”
He continued, “In addition to the energy related rise in costs to operate our factories, the costs to transport raw materials and components parts to our facilities and ship finished products to our customers are inflating beyond our ability to absorb the increases.”
Mr Boyd also noted that the chains serving the Taylor-Wharton factories were also experiencing unusual rises in energy costs and even though suppliers had maintained reliable deliveries, they were compelled to pass energy and transportation related increases through to their manufacturing locations.