Sherwood, a business unit of Harsco GasServ, today announced price increases effective May 14, 2007 for all product lines.
New price schedules will reflect increases averaging 11 percent on all of the company's valve products. The new prices are effective May 14, 2007. The increases are dictated by continued cost escalations for raw material, fuel, utilities and transportation. Sherwood's current prices have been in effect since the fall of 2006; however, sustained upward pressure on basic commodity prices have exceeded the company's ability to absorb the increases.
Roger Carlson, vice president & general manager-Sherwood Operations, commented that, $quot;continued price increases for raw materials, energy, and freight make it necessary to increase our prices for our all of
our products.$quot; Mr. Carlson further stated that, $quot;Basic metals costs worldwide for copper, stainless steel and zinc continue to impact the global market.$quot;
Sherwood will continue to investigate technologies and processes to minimize the impact of rising commodity prices in today's environment. Productivity enhancements are being realized through investment in new
manufacturing process improvements and cost reduction initiatives. Mr. Carlson noted that, $quot;Sherwood will continue to provide the highest quality valve products in the market at the best possible prices.$quot;
Price increases are effective on May 14, 2007. All in-house orders shipped on-or-after May 14th will be subject to the increases.