The extraordinary increases in PVC resin and plasticizer costs, driven by considerable increases in both oil and natural gas prices, make the increase necessary, the company said in a written statement. The recent explosion at the Formosa Plastics factory only served to put more pressure on key raw materials.
"While we have been successful in securing alternate raw materials without any impact on service or supply, and are well positioned for both the short and long term, costs have been further affected," said Allen Cubell, vice president, Residential Resilient Sheet.
"Through purchasing and aggressive cost-control initiatives, every attempt has been made to minimize the impact these price trends have had on both Armstrong and our customers in terms of increased costs," added Dominic Rice, general manager, Commercial Tile & Sheet. "Regardless of the current volatility in energy prices, our goal continues to be to provide our customers with superior products and timely service on all Armstrong products."