Buckman has announced global price hikes of 8 – 25% for all products following recent raw material price increases that have created “an unsustainable strain” on the company.
All increases are effective immediately and will vary depending on geographic region and products and services sold.
In some areas, increases may be higher where local conditions may necessitate additional adjustments.
The company said the hikes are a result of recent increases in the price of raw materials in addition to rising energy, transportation, labour, and regulatory costs, which it said have put “an unsustainable strain that can no longer be completely absorbed by the company”.
It added: “Market projections predict continued rising costs of upstream feedstock that, if accurate, could warrant additional pricing action.