Rising costs lead to price increases

07-11-2022

Currently, several circumstances and events are causing negative effects on our daily lives. We are all experiencing the effects of rising price levels in product categories such as energy, gas, packaging, transport and labour. This is compounded by the development of the Dollar, which has equaled the value of the Euro for the first time in 20 years. The consequence of these developments is that operational costs of our main partners, such as producers and distributors, as well as within our company, are rising.

Impact of developments

On a positive note, commodity prices are starting to fall and challenges around production capacity are slowly diminishing. Unfortunately, this is completely offset by the aforementioned component costs. The increase in the overall cost level, also affects the prices of our fasteners.

Price increase

Due to price increases worldwide, we assume a cost increase of about ten per cent. This varies by product, size and material. We managed to limit the price increase of fasteners to an average of 6.4 per cent. The price changes will take effect on 14 November. Depending on price movements, we will continue to differentiate the price impact according to market conditions.

Availability of quality products

As a specialist in fasteners, we never compromise on the quality of our products. With our strong supplier network, we continue to do our utmost to guarantee the availability of quality products that you have come to expect from us.

Do you have questions about your production planning and stocks? Let your account manager or our customer service know.