Buckman is to increase the price of products sold and delivered to customers in North America by $0.02 to 0.04/pound.
The increase will take place on 1 July and is being driven by “limited capacity, a shortage of drivers, new freight regulations and rising cost of fuel”.
Jim Doan, president/COO of Buckman North America, said: “The widely-publicised driver shortage along with other factors, such as the new electronic logging device rule, are causing a significant increase in freight rates.
“We have worked diligently to find the best solution to alleviate the effect of these issues, but unfortunately Buckman can no longer absorb all of these higher freight costs.”
Buckman is a privately-held, global specialty chemical company with headquarters in Memphis, USA.