Buckman, a privately-held, global company specializing in innovative chemistry and smart solutions, announced global price increases of 15 to 20% for all product offerings. The price increases will become effective October 1, or as customer contracts allow.
Price increases will vary depending on geographic region, solutions offered and market(s) served. In some areas, increases may be higher where local conditions may necessitate additional adjustments.
In the last 12 months, the chemical industry has experienced dramatic increases in global prices for primary feedstocks including crude oil, propylene, ethylene, natural gas, acrylonitrile, methanol, packaging, steel, aluminum and ammonia. Throughout the year we have witnessed significant global supply chain disruption, strong global demand and multiple natural disasters in North America that have and continue to put extreme upward pressure on raw material prices. These unexpected external events have escalated costs imposing an unsustainable strain that can no longer be solely absorbed by the company.
Buckman continues to drive operational excellence throughout its operations with the goal of minimizing the impact of these cost increases.