MEMPHIS, TN – Buckman recently announced global price increases of 15% to 20% for all product offerings. The price increases became effective Oct. 1, or as customer contracts allow. Price increases vary depending on geographic region, solutions offered and market(s) served. In some areas, increases are higher where local conditions may necessitate additional adjustments.
Buckman reports that 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, the company has 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. Buckman stated that these unexpected external events have escalated costs, imposing an unsustainable strain that can no longer be solely absorbed by the company.
Learn more at www.buckman.com.