Fort Worth, Texas — Sid Richardson Carbon Co. said it will raise the prices of all carbon black products effective 1 July, or as customer contracts allow.
The firm said price increases will be between 4 percent and 6 percent.
According to William Jones, president and CEO of Sid Richardson, the increases are necessary to offset increased operational costs associated with governmental regulations, increases in the cost of labour and capital equipment necessary to maintain plant infrastructure and inflation-related issues.
“Over the last several years, SRC has made significant investments in its production facilities in the US to drive productivity and continuously improve the quality of products and services for our customers,” Jones said in a statement. “In addition, painstaking efforts have been made to reduce production costs.”
“While in past years we have made every effort to avoid passing on any cost increase to our customer base, this situation is no longer sustainable. We will continue to take every action to minimise our cost structure but have come to a point where we are forced to appropriately adjust our prices to offset cost increases imposed on us.
Sid Richardson said it also will implement changes to its standard terms and conditions of sale and its standard packaging and premium charges, both effective 1 July.